How tough are VA appraisal guidelines? Any appraisal will help a lender determine a property’s value. But VA appraisals go beyond conventional appraisals by incorporating a second function: ensuring that homes meet the VA’s Minimum Property Requirements (MPRs) . Veterans need homes in good repair, not dicey money pits. In pursuit of that goal, MPRs establish basic standards for a home and its contents. Electrical and plumbing systems must be in good condition, roofs must be defect-free and basements must be dry. Homes that fail to measure up to VA MPRs can’t be financed through the VA loan program. VA appraisal guidelines can be strict and can eliminate fixer-uppers from contention. Many of the guidelines can be frustrating for military buyers who are considering older homes in need of renovation. But it’s important to note that VA appraisal guidelines aren’t as different from modern conventional appraisal standards as they once were. Thanks to the housing market m...
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