While there may be situations where the Department of Veterans Affairs might waive its minimum property requirements, some requirements cannot be issued a waiver because they directly affect the health or safety of any occupant of the home itself.
Those who are specifically applying for a VA home loan won’t be approved for a loan on any property that is unable to meet minimum property requirements in these areas.
According to the rules of the VA, properties that have been evaluated by a VA appraiser must be free of hazards and defects. Any issue that could potentially effect the health of future occupants must be addressed. Some of the more common issues that potential home owners may not consider as being a minimum property requirements are foundation, dampness and drainage.
Each of these areas has a direct relationship to the future value of the property as well as the health and safety of the occupants. They’re designed to both protect the investment itself and to safe guard the buyer from unsafe or unsanitary conditions.
For more information on mortgages and VA loans, contact our offices in Joplin, MO today. We would love to assist you in finding the home of your dreams.