Va Home Loan Requirements Home Inspection. While not required for a va loan a va home inspection provides a complete top to bottom review of a property so you can make a fully informed decision before purchasing a home. To obtain a va loan the law requires that.
To obtain a va loan the law requires that. Like other federal agencies backing mortgages. This mandatory inspection is an appraisal and visual inspection combined.
Potential va homebuyers need to meet requirements set by the department of veterans affairs and the lender they work with to obtain financing.
Va home loans like most mortgage loan transactions involving a forward mortgage or new purchase loan require an appraisal. The va has developed a list of minimum property requirement mpr and the home must meet these requirements to qualify for a va mortgage. Home inspections are typically a few hundred dollars but vary by location home size and features. The va appraisal process is sometimes referred to as an inspection even by those in the industry who should know better.