Routing # 256078446
MORTGAGE KNOWLEDGE CENTER
PenFed Mortgage with Confidence
MORTGAGE
How to Find VA-Eligible Homes for Sale
What you'll learn: What to know about finding VA-eligible properties in a competitive market.
EXPECTED READ TIME: 5 MINUTES
July 23, 2024
Buying a home is a big investment, but Veteran's Affairs (VA) loans have long been known to make homeownership more affordable for eligible veterans and servicemembers. However, knowing the benefits and how these home loans work is only the first step.
There are a variety of homes on the market for you to choose from, so it is important for VA loan borrowers to understand the property requirements their chosen house must meet in order to be approved for funding.
In this article, we will provide you with a guide on what makes a property VA eligible. That way, you can better navigate the house-hunting process to find a home that meets your needs.
What are the VA home loan house requirements?
In order to purchase a home with a VA loan, the property must meet the Veterans Affairs (VA) minimum property requirements. These standards are set by the VA to ensure that the place you want to call home is safe, structurally sound, and sanitary.
The minimum property requirements (MPRs) to obtain VA loan approval include:
-
Working HVAC systems
-
Adequate roofing with no signs that repairs will be needed in the near future
-
Sufficient size for basic living necessities
-
A clean, continuous water supply
-
Zero lead-based paint present
-
Free of termites, fungus, and dry rot
-
Sanitary sewage disposal
-
Properly vented and accessible attics and crawl spaces
-
Accessibility from an all-weather public or private street
-
Must be the buyer’s primary residence
Once you are under contract to buy a home, your VA-approved lender will hire an appraiser that specializes in VA properties. They will estimate the home’s market value and ensure all MPRs are met.
Are there VA loan appraisal requirements?
Yes, homebuyers who choose to purchase with a VA loan are required to get an appraisal to be approved. It is also highly recommended that you start with a home inspection so you can get an in-depth look into the property’s systems and identify any potential issues or existing problems. However, at this time, the VA does not have a home inspection requirement.
What are VA eligible homes?
Do not let the VA’s property requirements deter you. There are a variety of homes that can be purchased with a VA loan, including:
-
Single-family homes
-
Condo units within VA-approved developments
-
Townhomes
-
Modular or prefabricated homes
-
Multi-unit properties (at least one unit must be used as the buyer’s primary residence)
Please note that not all lenders offer financing on all property types so it’s important to talk to your lender to see what VA property options are available. So long as the home meets the VA’s MPRs and your finances are up to standard, your VA loan is likely to be approved for funding. That said, there are certain types of residences that are not eligible.
What homes are NOT VA eligible?
-
Investment properties (the use of a VA loan is contingent on the property being used as your primary residence)
-
Vacation homes or second residences
-
Co-ops
-
Vacant land
-
Homes located in flood hazard areas where flood insurance is unavailable
-
Properties within the coastal barrier resource system
How to find VA-approved homes for sale
With all of that said, how do you go about finding a VA-approved home? There is no worse feeling than falling in love with a property that you subsequently find out does not meet the VA’s property requirements. Luckily, there are resources you can use to eliminate homes that will not be approved so you can be sure you are not wasting time during your house hunt.
A real estate agent who has extensive VA loan experience is the best tool you can have, as they will be equipped to help you navigate the housing market. Their knowledge of the MPRs and past experience will prove to be an invaluable resource. They will be able to quickly identify homes that meet all of your criteria and filter out those that do not.
Online resources
You can also utilize online resources to collect a list of potential homes that you are interested in. Zillow, Realtor.com, and Trulia are a few examples of popular sources to find real estate listings. Homefront.com is a website that caters specifically to veterans and military families, providing information for over 3 million listings across the nation.
Regardless of the online source you choose, you will be able to search for homes by price, square footage, and more. When you discover a home of interest, you can find more information on the listing agent’s website.
Be sure to discuss all of your options with a VA-approved lender. While not every lender can provide VA loans, those that specialize in them will be able to provide you with resources and real estate agent recommendations.
SIMILAR ARTICLES
What Are the Pros and Cons of VA Loans?
There are many great things about a VA loan, but there are also some disadvantages. Find out the requirements, and if a VA loan works for the type of property you're buying.
VA Loan Eligibility: Step by Step
Learn what you need to do to qualify for a VA home loan. From finding a VA lender, getting your COE, prequalifying for a mortgage, and requirements for the property.
Buying Your First Home With a VA Loan: Getting Started
Unsure where to begin as a first-time homebuyer in the military? Read our three-step guide to becoming VA loan-eligible.
VA Fixed-Rate vs. VA Adjustable-Rate Mortgage
What type of VA loan is right for you? A fixed-rate or adjustable mortgage? There are benefits to both. Discover your options so you can decide which mortgage is your best choice.
Home Buying Steps
Mortgage Products
Disclosures
1Conventional Loans
Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on 1.0 discount point, which equals 1.0 percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, conforming, fixed-rate loan. Loan amount of $400,000; loan-to-value ratio of 75%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of 1%; not to exceed $1,995. Speak to a PenFed Mortgage Loan Officer for additional details.
2FHA Loans
Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on 1.0 discount point, which equals 1.0 percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, conforming, fixed-rate loan. Loan amount of $400,000; loan-to-value ratio of 96.5%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of 1%; not to exceed $1,995. Speak to a PenFed Mortgage Loan Officer for additional details.
3VA Loans
Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on 1.125 discount point, which equals 1.125 percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, conforming, fixed-rate loan. Loan amount of $450,000; loan-to-value ratio of 95%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of $995.
4Jumbo Loans
Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on 0.625 discount point, which equals 0.625 percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, non-conforming, fixed-rate loan. Loan amount of $1,009,000; loan-to-value ratio of 70%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of 1%; not to exceed $1,995. Speak to a PenFed Mortgage Loan Officer for additional details.
Fixed Rate Advance Lock-In You may lock in an Annual Percentage Rate for Advances during the Advance Period. During your Advance Period, you may choose to have three separate Fixed Rate Advances locked in at any one time, with a maximum of two new Fixed Rate Advances per calendar year. Each Fixed Rate Advance must equal or exceed Ten Thousand Dollars ($10,000.00) and you may not request a Fixed Rate Advance that would cause the amount you owe to exceed your Credit Limit. The only term option for your Fixed Rate Advance is 240 months (“Fixed Rate Advance Term”). However, the term of your Fixed Rate Advance cannot exceed your Repayment Period.
Routing #256078446
©2026 Pentagon Federal Credit Union