Many veterans wonder whether the home they want to buy qualifies for a VA loan. An understanding of the VA’s Minimum Property Requirements – or MPRs – can help.
If a home meets these guidelines, then it may qualify:
What are the VA Minimum Property Requirements or MPRs?
1. Access to the home is available year-round, independent of any neighbor’s property, and has enough space between buildings for exterior upkeep. The property must have safe and adequate pedestrian or vehicular access from a public or private street with an all-weather surface.
2. The property is a single and marketable piece of real estate with:
- At least 75% residential space
- A bathroom and space for living, sleeping, cooking and dining
- Not more than four units sharing laundry, storage, utility room
- Separate shutoff for water main, sewer, gas and power
- Safe, appropriately sized mechanical system in good condition and unexposed
- Electricity for lighting and for necessary equipment, with no visible frayed or exposed electrical wires
- Permanently installed heating that can maintain a temperature of at least 50 degrees Fahrenheit in areas with plumbing (except in areas with a mild climate). Air conditioning is not required, but if installed, it must work.
- Detailed VA appraiser report for unvented gas fireplaces or fueled heaters
- Water supply (either city or well) is continuous and safe for drinking from the source with heater for hot water
- If water well is shared, there must be enough water for all units at the same time, and there must be protected connections and a proper maintenance agreement
- Waste flows safely into septic or public sewer
3. The roof is free of leaks, and any repairs done consist of removing old shingles with three or more layers before replacing them with new ones.
4. Attics and crawl spaces have natural ventilation, access, are free of debris, and have enough room to make repairs to ductwork, electrical and plumbing.
5. Party walls or shared walls separating semi-detached or row units have no gaps from foundation to roof.
6. Site has proper drainage away from structure and ground cover is stable; and the property cannot be within the easement of high voltage transmitters or gas or petroleum pipelines -- if within 220 yards of a gas or petroleum pipeline, additional approval is needed. A home cannot be subject to regular flooding; if it is located within a FEMA Special Flood Hazard Area (SFHA), it must be covered by a flood insurance policy.
7. Structure is sound, clean and free of dry rot, decay, mold, fungus, peeling paint, broken windows, bad construction, poor craftsmanship, dampness, leaks, exposed wires, evidence of continuing settlement, and termites and other pests.
If the property is a manufactured home, it must be on a permanent foundation, adhere to HUD Manufactured Home Construction and Safety Standards, and have a floor area of at least 400 square feet for a single wide or 700 square feet for a double wide.
In summary, the VA’s MPRs require a property to be free of hazards that can hurt the occupants or prevent them from using and enjoying the property.
Additionally, the VA maintains some local requirements by state.
For more information, contact a VA approved lender.
How Much Home Can You Afford?
What kind of home can you afford through your VA home loan benefit? Use our calculator to estimate your payments for different scenarios and find providers that offer VA loans and/or conventional mortgages and work with active military and veterans.
