VA loans to individual borrowers are simpler than the requirements for VA loans to two or more borrowers. Read here about the different rules for borrowers.
The VA does not specifically reference what age a home can be. There are other factors, however, that must be considered when buying an older home.
If you're interested in buying a particular home with a VA-insured loan, that property must meet a set of minimum standards, called VA Minimum Property Requirements, or MPRs for short.
Mortgages through the VA home loan program aren't just for suburban homes. See how military homebuyers can purchase a condo through the VA loan program.
VA loans have a variety of applications. Did you know you can apply for a VA home loan for properties with up to four units? Learn how in this article.
Termite infestations are very difficult to spot unless there is obvious damage. Fortunately, VA loan rules are designed to protect the buyer and the property the VA borrower wants to purchase.
If the property has lead paint or peeling paint, it may not pass VA appraisal standards requiring homes to meet VA minimum property requirements.
Borrowers cannot waive a VA appraisal, but an MPR waiver can waive certain repair requirements if the home does not meet the VA’s MPR standards.
Property to be purchased with a VA home loan must meet a list of Department of Veterans Affairs minimum property requirements. They cover a wide range of issues from accessibility to health and safety.
Private and shared wells, cisterns and springs are common, and these properties can still be purchased with VA loans with a few additional requirements.
VA appraisal and VA inspection are terms often used interchangeably, but there are important distinctions between these crucial elements of the home buying process.