What Type of Property Will VA Allow Me to Purchase?

va-loan-properties-allowedThe most common question we get is “What type of property will the VA allow me to purchase?”  It’s a great question because VA has specific requirements and the requirements for each property are where most people get confused.

New Construction of a single family residence is fairly simple. The home must be covered by a one-year VA builder’s warranty and be 100% complete before we can fund the loan.  The VA appraiser will complete a final inspection once the home is finished.

Existing single family residences are also fairly simple.  The home needs to be in good shape and not require any major repair.  VA will send out an appraiser and if any repairs are noted they must be taken care of before funding of the loan.

Town homes follow the same rules as the single family residence.  The property needs to be in good shape and not need repair.

Condominiums require a prior approval from VA.  In order to meet the VA property requirements the condo must have a VA condo ID number.  The link below will allow you to search for all approved VA condos.


Modular Homes are commonly confused with manufactured homes.  Modular homes are pre-fabricated then reconstructed on sight.  They are delivered to the building site in sections, but are not attached to a chassis supported by wheels.  These homes also need to be 100% complete before we can close and fund the loan.

Manufactured Homes are classified as single-wide, double-wide, and triple-wide.  VA will allow manufactured homes but they must be at least a double-wide and classified and taxed as real property. They also must be properly affixed to a permanent foundation, and conform with applicable building code and zoning requirements for real estate.

To get more information on qualifying for a VA home loan please click APPLY NOWContact Military Mortgage Shop or call 888-844-9851 X 700.


  4 comments for “What Type of Property Will VA Allow Me to Purchase?

  1. March 7, 2014 at 9:12 am

    hello, I am carl eagle my email is [removed] I want any and all information on the military mortgage shop, I was pre-qualifield by v.a. but could not get any body to finance my home and land please respond. my phone # is [removed]. my address is [removed] thank you

  2. Lemuel Bray
    March 30, 2014 at 11:13 am

    The underwriter’s rules apply, not the VA’s. VA appraisers are so rigid, even beyond the rules that realtors won’t advise their sellers to take an offer that has a pre-approved VA guaranteed loan. If you are having trouble look for a Fannie Mae Home Path property as a pre-owned home. Some come up on Auction.Com and you can get in fairly reasonably.

    What I did. I bought on Auction.Com a Fannie Mae property for 78,000. The closing costs moved my total outlay to 83,000. The property on purchase would never have passed a VA inspection. We were only required to pay 3% down but we put just a little more and financed 73,000. After a year and with some repairs done we applied for our VA guaranteed loan on the property value of 142,000 getting a funded loan of 135,000 enabling us to pay of the repairs, moving from Japan and furnishing the home with a VA guaranteed home loan on a year term instead of the 30 year term at a % point less and only doubling of the payment.

    The VA guaranteed loan is much easier to fund if you are all ready in the property. My son bought the home he was renting on a VA guaranteed loan. The property owner knew he had to make the repairs necessary to move the property. The property owner was in an area where there were a lot of veterans and had purchased the home from a foreclosure auction. At the time prices were at their most depressed so the owner properly guessed he would be better off to rent for a year to someone who had gone through a short sale and then try to sell to the renter.

  3. George Holland
    July 17, 2014 at 9:20 am

    My situation is very similar to Lemuel Bray’s. I need to know what my options are as far as home repairs and improvements.

    • Lemuel (Lem) Bray
      April 20, 2016 at 5:16 am

      Finding the underwriter is a problem. Buying a fixer upper is allowed if you have enough credit card credit to quickly get your work done. As I said the Fannie Mae Home Path mortgages are easiest to start because they have no requirement for inspection and are an as is sale.

      For a time when I was looking in Riverside County in CA Wells Fargo was doing the VA fixer loans. But the realtors there were interested in quick cash sales and probably taking money under the table from flippers. In any case, although I had a VA lender that would get me into the size home I needed the offers I made were rejected and the homes sold for less than I was offering to a flipper.

      If the home isn’t approved for Home Path see if you can get a lender and a realtor who will put it in for Home Path approval if you qualify. That is the best path. Then you can work at your own time based on your own financial ability.

      Also if you take that path and need financing take a 0% on purchases offer on a credit card. When it becomes full and runs to the end of time get another and pay 3% to transfer the unpaid balance. If the card is like the last one I received and has a period of 15 to 18 months you’ll end up paying less than 3% if you can get the pay down over a short period. Then you can think about rolling your fixing debt into a VA loan if it is a financial advantage.

      It is much easier to get a VA Appraiser to approve a home you are all ready in than one that you are trying to get into.

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