Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

VA Loan Reader Questions: Minimum Property Requirements
A reader asks, “I applied for a VA loan and the appraisal was done.  The appraisal came back higher than the loan ($30,000 higher), but the lender says I have to make minor repairs to my house before I can proceed with the loan. My question is why do I have to make these repairs when the VA makes loans for home renovations ?”
An entire chapter of the VA Lender’s Handbook is dedicated to what the Department of Veterans Affairs calls Minimum Property Requirements. These requirements are listed to help VA appraisers know what homes should be approved for VA guaranteed mortgages as-is, which need corrections or repairs before the loan can be approved, and which homes should not be considered for VA mortgages.
According to Chapter 12, “ the MPRs provide a basis for determining that the property is safe, structurally sound and sanitary, and meets the standards considered acceptable in a permanent home in its locality.” When a VA appraiser looks at the property and recommends corrections, those corrections must be carried out to bring the home up to the VA’s minimum standards so the loan can be approved.
In some cases the corrections may be a sticking point ... more

__________________________________________________
Are you on The Rain? Grow Your Network!