The VA appraiser will perform a thorough termite inspection to ensure that the home is currently free of pests.A shared driveway may require a written contract between the two owners to outline details pertaining to the responsibility of each party.A permanent driveway or easement must be well-established.You should be able to enter and exit the home without trespassing on the private property of another person.They may also search for water damage and proper ventilation. They may look for major cracks in the foundation of a home or rotten wood in the crawl space.Īny signs that a current or future repair will be needed to the foundation may disqualify the house from receiving financing with a VA home loan.Your appraiser will make sure that there are no obvious signs of defective construction on the property.Identifying a running furnace that can heat the house in the winter is essential to meeting the VA minimum property requirements, even if you don’t intend to ever use it.All homes must have heat in order to qualify as a safe living environment, no matter where it happens to locate.If there is a septic system on the property instead of city sewer systems, the appraiser will need to ensure that it is in working order and can be accessed by the local health authorities.The plumbing and sewage systems within the home must be in working order.This may result in greater turnaround time for your VA appraisal than public water which can typically skip this testing.Well water will have to pass many tests to ensure that is free from harmful bacteria and is safe for human consumption.Clean drinking water is a must-have for any home, particularly if you want to use a VA loan.VA loans cannot be used for commercial or industrial properties.īeyond these simple requirements, a home must also meet all of the following criteria: Clean Drinking Water It all starts with making sure that the home is only zoned as a residential property and that it has adequate space for you to live in. You might be surprised to find out how easy it is for a potential property to qualify for these VA minimum property requirements.
What are the VA minimum property requirements? You can avoid dragging out the home buying process by eliminating properties that you know won’t pass this short appraisal. You may be able to determine immediately that a home has a major issue that will disqualify it for VA financing.įor example, you might spot a problem with pests or it may not have any heating. Having a thorough grasp of the MPRs can help you to spot problems with potential homes during your initial walkthrough or showing. Why do I need to know what the VA MPRs are? Understanding what the MPRs are can help you to identify the difference between the appraisal and an inspection. The short answer is no.Īn appraisal (complete with a look at the VA minimum property requirements) is not the same thing as a home inspection. Some home buyers continue to ask whether the appraisal is the same thing as a home inspection. What are the VA Minimum Property Requirements? The entire program makes homeownership more affordable to the brave men and women who have already sacrificed a great deal for our country.įollowing through on their commitment to service, the Department of Veterans Affairs wants to ensure that veterans only purchase homes that are safe and sanitary. Plus, you get a low-interest rate, as long as your property will meet the VA minimum property requirements. You can purchase a home without a down payment or private mortgage insurance. The VA loan program is highly beneficial for veterans and service members who want to find a great deal on their next home. How VA Loans and VA MPRs are Beneficial for Vets Necessary major repairs cost a lot of money, so it is better to learn about them in advance. Most lenders will advise that you have both the mandatory VA appraisal and a secondary inspection to ensure that the house is up-to-date.
A clean appraisal doesn’t necessarily mean that a more thorough home inspection wouldn’t identify key issues with the property.
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