Property Q&A in Spotsylvania>Question Details

Melissa Colon, Renter in Stafford, VA

Will the VA loasn or FHB accept approval for this home?

Asked by Melissa Colon, Stafford, VA Sun May 23, 2010

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This question is about this property: http://www.trulia.com/property/1049894969-6400-Morris-Rd-Spo…

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3
Melissa,

First it's important to have an agent help you with the process if you're working through a VA or FHA loan. An experienced agent will be able to point out repairs that will most likely be requested by the appraiser. If you have an agent make sure you pose this question to them.

Otherwise, VA/FHA do have guidelines for their appraisers to follow as to the condition of the property. The access to the property is usually a concern, but Morris Road is a State Maintained Road so, there will mostl likely only be an issue with the physical structure.

New roofs, lead paint, malfunctioning HVAC, etc... are all things that will need to be in working order.

I noticed that this listing is from a website for unrepresented sellers. That should cause a bit of pause in that the Seller has most likely not been prepared by a professional to get the home in a condition that will be acceptable by most lenders. That makes it even more important to have a Buyer Agent to help you with the process.
Web Reference: http://www.VAHomePlace.com
0 votes Thank Flag Link Sun May 23, 2010
Melissa,

VA and FHA loans require the house to be in a move-in condition or the seller must be willing to do the required repairs. The home inspection will show if any repairs are needed. Then it is up to the lender's appraiser to approve for the VA or FHA loan - often it is a professional, but very subjective opinion.

I hope it helps. Let me know if can be of assistance.
0 votes Thank Flag Link Sun May 23, 2010
When using VA of FHA financing,an apprasial will be ordered, and the house must meet VA or FHA standards; meaning the house is habitable. The house must have all appliances ( stove, fridge, etc) and in move in condition.
I would be happy to help you further with your home search. I am very familiar with Satfford and Spotsylvania Counties. Please contact me if I can be of assistance.
WIth Kindest Regards,
Jennifer Rivera
571-292-5377 x 112
Realtor, Army Wife and Veteran
Move4 Free Realty
Ask me about buyer incentives
Jennifer@move4freerealty.com
0 votes Thank Flag Link Sun May 23, 2010
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