what type of house will the VA home loan approve?
My husband qualifies for the VA home loan and we found a house that is available for a incredible deal but the previous owner (My cousin) said that the Va wouldn't approve the loan because of the electric ( she thinks,y her husband did all the paper work) I guess my question is is there any truth in this are the really picky about what they will approve and is there any way to remedy the situation.
I hope this makes sense...
- 9 years agoFavorite Answer
The house must be in good condition. Once you apply for the mortgage they send a VA appraiser out to look at the house if they find things like chipping paint, outdated electric, leaking pipes etc. they could call for them to be repaired. Talk to your mortgage person and realtor for things that could come up on that house. In NJ it is the norm that the seller would made the repairs required for you to get a mortgage, but there is normally a cap on that amount in the contract.Source(s): Real Estate Broker NJ