Does anyone know what exactly they look for when doing a home inspection for a VA guaranteed loan?

Question

Are they just checking major things like plumbing, electrical, etc., or is it also cosmetic things like carpeting and paint?

Answer 1

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Answer 2

ITS THE SAME AS ANY HOME INSPECTION  STRUCTER ELEC PLUMING ROOF ALL MAJOR THINGS AND THE COSMETIC IS ALL UP TO YOU

Answer 3

They are looking for code violations, plumbing, electrical, foundation, roofing, termites, asbestos, cracked basement floors, structure stability, the works. Paint and cosmetic will give them a better feel of the home but they will not miss a thing when they look. You may be able to cover some things but what they can see is the ticket.

Answer 4

Mostly the large items like you said and also type of windows, wiring up to code, can't have any leaks or cracked windows, and if an older house no lead paint etc... If more than two stairs that there is a railing.

It can't have any home projects that are not completed as well. They are pretty much the same as FHA guidelines.

Answer 5

VA appraisers use HUD minimum property standards.  If you really want to get into the details, the guide is at http://www.hud.gov/offices/adm/hudclips/... .  

Basically, they are looking for safety and livability issues.  If the carpet is a little dirty, that is ok.  However, if it has holes in it or has obvious mold on it, that isn't.  An appraiser doesn't look at the mechanical systems in depth.  They may randomly test an outlet, switch on a HVAC system to see if the fan works, or turn on the water in a sink to see if it works.  They also look for things like trip hazards and handrails on steps.  

They will look for peeling paint in houses built before 1978.  

Cosmetic items are usually not in the appraisal, other than maybe affecting the value of the house.  If you want cosmetic items fixed, that's between you and the seller, or you can do them when you buy the house.  

If you want an in-depth inspection of the house, get a home inspector or get an experienced contractor to look at the house.

Answer 6

I am going through a VA loan home purchase right now and can tell you for a fact, that things have changed. It is not like the old days similiar to a FHA buy where the house has to meet standards of paint and carpet. Not anymore the home just has to appraise for what you are offering, and they suggest you get an inspection for any problems. Write the VA and get your letter of eligibility they will include a letter that states this. Many realtor's and loan places do not know this and shy away from VA loans because of this misconception that is out there. Can give you the name of a lender that does understand this and is happy to do VA loans. Just E-mail me.Many inspectors have not read up on the new law, in fact only need the appraisal to come in at what you are offering and can get 100% financing. Have the paper, have the offer in, and am closing at the end of next month, and no the house does need a little work.

Answer 7

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Answer 8

It is very common for people to confuse a home appraisal with a home inspection.  The VA home appraisal looks for things they think could affect the foreclosure value if it comes to that- it is not to protect the buyer at all and is not a home inspection.

A buyer that has any sense at all will hire a home inspector to check out the home for them.  That inspector will work directly for them, the buyer, not the lender at all.  They will check for any problem you arrange to have them check for and the buyer should always be there for the inspection.

Answer 9

VA home loans are a unique way of extending support to the US war veterans, who committed their lives in safeguarding the interests of the country. Therefore, understanding these loans is beneficial.  VA housing loan program provides financial assistance to veterans so that they can purchase home at a favorable rate of interest and convenient loan terms. Loans provided by the VA are fixed<!--interest mortgage loan that do not require any down payment. These loans are provided to all eligible veterans, regardless of their age, color, race, s*x, religion, familial status, nationality or handicap.

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No prepayment penalties and long amortization terms are another advantage of these loans. Houses provided under VA housing loan programs are duly inspected at the time of construction and require a warranty from the builder. The foremost step is to locate a suitable-->property in a safe locality. Next, the veteran has to go to a lender and apply for a home loan. VA guaranteed loans are provided by private lenders that include banks, mortgage companies and savings and loan associations. No prepayment penalties and long amortization terms are another advantage of these loans.