Your property needs to meet certain prerequisites or Minimum Property Requirements to qualify for a VA home loan. These criteria ensure that health and safety standards are enforced for homes purchased by military personnel and Veterans.
8 Reasons Why a Property May Fail a VA Home Loan Inspection
If you want to buy a property with a VA loan, you’ll need to have it inspected. An inspection helps ensure that your home is safe and ready for you to move into as soon as the papers are signed.
Let’s take a look at some of the issues that might disqualify a property during a VA home loan inspection.
- Inadequate Heating Systems
As part of your VA home loan inspection, your inspector will make sure that the home has adequate heating systems in place. For example, your prospective home may fail to pass the inspection if it only has a wood stove as its primary heating source.
- Outdated Electrical Systems
The house needs to have proper, up-to-code electrical systems. The inspectors will check the equipment and wiring to make sure everything is operating properly and in-line with current regulations.
- Issues with the Roof
If there are holes in the roof that can result in leaks and other problems, your inspection will not be approved.
- Damage to Windows
Damage to windows can disrupt your central heating. Therefore, to pass the inspection, the house needs to have windows that are installed properly and in good working condition.
- Pest Problems
Termites and other pest problems can prevent your chances of getting an approval. The seller will need to provide you with a section one termite clearance.
- Rotting Wood
Rotting wood can cause structural problems. VA home loans are only granted for properties that are in good structural condition.
- Water Stains
Water stains indicate that there are leaks or that the plumbing system needs to be repaired. Approvals are never granted to homes suffering from water damage to protect the interests of Veterans.
- Proper Ventilation in Attic and Crawl Spaces
Your inspector will also check to see if there is proper ventilation in the attic and crawl spaces.
What Causes a House to Fail a VA Loan Home Inspection?
Essentially, any issue that poses risks to the health or safety of the buyer can cause a home to fail a VA property inspection.
Learn More About VA Loans
If you want to learn more about VA home loans and inspections, reach out to Mortgage Solutions Financial. You can schedule a consultation with our experts to learn more about VA loans and their requirements.
