# VA Loans - Minimum Property Requirements



## FarmerKat (Jul 3, 2014)

We have a contract to sell our house to buyers who are getting a VA loan. I have been reading up on the Minimum Property Requirements (MPRs) for VA loans. I don't see any red flags when it comes to our house (so that's good). However, we still have our rental house up for sale and one thing in the MPRs made me think.

One of the requirements is: 


> Living Area and Facilities: Each unit must have sanitary facilities and enough space to assure suitable living, sleeping, cooking and dining..


We have had some larger families come look at our house and/or the rental. It never crossed my mind to consider that a bank might limit the number of occupants per square foot or bedroom or bathroom. But that is what the above statement sounds like. Does anyone know what the requirement actually is? Is it based on square footage or rooms? E.g. would a family with 6 kids be approved to purchase a 3 bedroom house or would they be required to buy one with more rooms? At what point can one legally inquire about that? (I thought that discussing children, etc. would be considered discriminatory.) Does the seller simply have to enter into a contract and wait until the VA appraiser gives an OK?


----------



## Jlynnp (Sep 9, 2014)

The only 'requirement' we had was that we had to purchase a stick built home and it had to pass inspection. Because our house looks like it could be a modular home we had to have a structural engineer inspect the house and foundation. They also required the bank (house was a foreclosure) replace the lighting fixtures in the bedroom because the previous owners had taken the original ones out.


----------



## Declan (Jan 18, 2015)

FarmerKat said:


> We have a contract to sell our house to buyers who are getting a VA loan. I have been reading up on the Minimum Property Requirements (MPRs) for VA loans. I don't see any red flags when it comes to our house (so that's good). However, we still have our rental house up for sale and one thing in the MPRs made me think.
> 
> One of the requirements is:
> 
> ...


You need a kitchen, bathroom, bedroom, and living room


----------



## FarmerKat (Jul 3, 2014)

Jlynnp said:


> The only 'requirement' we had was that we had to purchase a stick built home and it had to pass inspection. Because our house looks like it could be a modular home we had to have a structural engineer inspect the house and foundation. They also required the bank (house was a foreclosure) replace the lighting fixtures in the bedroom because the previous owners had taken the original ones out.


We were told by a mortgage broker that a modular house on a permanent foundation that is legally permanently attached to the land is OK for VA. There are specific requirements as to what constitutes "permanent foundation". We have reviewed the requirements with him and our house meets the criteria. Our buyers have also provided this information to their lender and they confirmed the same. Maybe that was a recent change, I don't know. Of course, only the appraiser will make the final call if the house is acceptable. 



Declan said:


> You need a kitchen, bathroom, bedroom, and living room


That's good. I just was wondering if they set limits as to how many people can share bedroom or bathroom.


----------



## Dutchie (Mar 14, 2003)

VA will do manufactured homes as well as long as tje wheels and tingue are removed


----------



## Jlynnp (Sep 9, 2014)

We went through I Freedom Direct to get our VA loan and they would only finance stick built homes.


----------



## FarmerKat (Jul 3, 2014)

Jlynnp said:


> We went through I Freedom Direct to get our VA loan and they would only finance stick built homes.


A mortgage broker told me that VA will finance a manufactured home on a permanent foundation. However, there are specific rules as to what constitutes permanent foundation. Our buyers are going through Cross Country mortgage and have been told that our manufactured home qualifies (it has also been legally detitled and affixed to the land). We have not been through the appraisal yet so I will know more once that happens. 

There is nothing in the MPRs that addresses mobile/manufactured homes so I wonder how much flexibility the lender has. http://www.military.com/money/va-loans/easy-to-understand-va-minimum-property-requirements.html


----------



## po boy (Jul 12, 2010)

FarmerKat said:


> A mortgage broker told me that VA will finance a manufactured home on a permanent foundation. However, there are specific rules as to what constitutes permanent foundation. Our buyers are going through Cross Country mortgage and have been told that our manufactured home qualifies (it has also been legally detitled and affixed to the land). We have not been through the appraisal yet so I will know more once that happens.
> 
> There is nothing in the MPRs that addresses mobile/manufactured homes so I wonder how much flexibility the lender has. http://www.military.com/money/va-loans/easy-to-understand-va-minimum-property-requirements.html


Look at Chapter 7, 10 and maybe 11, 12


----------



## FarmerKat (Jul 3, 2014)

po boy said:


> Look at Chapter 7, 10 and maybe 11, 12


Thank you for the link. That was very helpful. I did not see anything where our house does not meet the criteria. We shall see what the appraiser finds.


----------

