Articles and news about VA loans and HUD requirements. VA loans are a great way to buy a home with no down payment.

Tag Archives: VA MPRs

VA Minimum Property Requirements for Multi-Family Units

VA Minimum Property Requirements for Multi-Family Units

VA loans aren't just for single family dwellings--did you know there are VA loans available for properties with up to four units? The borrower must certify he or she intends to live in one of those units as the primary...

VA Loans, Converted Garages, and State/Local Code: A Reader Question

VA Loans, Converted Garages, and State/Local Code: A Reader Question

A reader asks, “Can you buy a home VA financing with a converted garage? No permit was pulled but a lic contractor did the work. Can we put funds in escrow to have the wall removed to complete the sale?”...

VA Appraisals And Electrical Systems In The Home: A Reader Question

VA Appraisals And Electrical Systems In The Home: A Reader Question

A reader asks, “I just bought a home using a VA Loan and just found out that the electrical circuits are not grounded. Is this something that should have been discovered at the time of the appraisal?” The answer depends...

VA Appraisal Requirements For Water Supply To The Home

VA Appraisal Requirements For Water Supply To The Home

One common question we often get regarding VA appraisal requirements for homes to be purchased with a VA guaranteed mortgage loan involves the question of what types of water supply is acceptable for the home. Can a well or other...

VA Minimum Property Requirements Update: Water and Sewage

VA Minimum Property Requirements Update: Water and Sewage

The Department of Veterans Affairs has a VA minimum property requirements update for water and sewage. In VA Circular 26-13-24, we find an update that includes the following: “Historically, for properties on individual water and/or sewer (septic) systems, connection to...

VA Loan Minimum Property Requirements: Asbestos

VA Loan Minimum Property Requirements: Asbestos

After viewing a recent post about VA minimum property requirements and appraisals, one reader asks, "What about asbestos shingles on an older home?"

Assuming the reader is asking whether asbestos shingles would disqualify a home from being approved for a VA...

VA Loans Reader Question: VA Minimum Property Requirements

VA Loans Reader Question: VA Minimum Property Requirements

Over the holiday break, a reader question came in asking about the specifics of VA Minimum Property Requirements, also known as MPRs for short. "I would like a listing of the VA's minimum property requirements. For example: I know that...

VA Loan Minimum Property Requirements For Electrical Systems

VA Loan Minimum Property Requirements For Electrical Systems

When buying a home with a VA insured mortgage loan, the property must meet a set of minimum property requirements as spelled out by the Department of Veterans Affairs. This raises many questions for home buyers and potential VA loan applicants....

VA Loan Minimum Property Requirements: Are There Exceptions?

VA Loan Minimum Property Requirements: Are There Exceptions?

The Department of Veterans Affairs has a set of standards for all properties to be purchased with a VA-insured home loan. The VA will not approve loans for buildings or property that doesn't meet its Minimum Property Requirements (MPRs). For...

VA Loan Rules For Lead Paint

VA Loan Rules For Lead Paint

In several recent posts, we've discussed the VA appraisal process and what it means to have a home reviewed by a VA assigned fee appraiser. The appraisal is designed to establish a property's fair market value and make sure the...