A purchase of a home using your VA will have to meet Minimum Property Requirements (MPRs). You can probably find this doing a Google search. The big thing to remember is that, if something can cause further damage (ie..bare exterior wood, leaks, cracked windows, dry rot), or a safety hazards (ie..loose hand rails, improper stair, height, tears in floors) will need to be repaired. A permanent heat source is a requirement as well.
Mar 14th 2014Rates:
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There is, however the list would way too extensive for this post, and you would need to be an appraiser or attorney to understand what it means.. In general.. any deficiencies that have to do with safety or health concerns or anything that makes the home inhabitable will be addressed.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
Mar 14th 2014Yes but it is very large and not easy to understand.
Mar 14th 2014Main things to look for are that all systems such as plumbing , sewer, setic, well, electric are all in working order. Making sure there are no termite, pest issues. No major repairs needed. Make sure there are no repairs in process at time of appraisal otherwise appraiser will need to go back out there to certify everything is complete. That would run you another $75 to $150.If any of these prove to be a issue then you may need to look at a rehab/renovation mortgage which can be done through Fannie Mae Homestyle and FHA 203k.Please email or call in with any questions - john.bates@cbcnationlabank.com / 877 80 3892
Mar 15th 2014