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Can I use VA loan to buy a foreclosure house that needs roof replaced?
I saw a house with lots of potentials. But it's a bank-owned property and the roof needs to be replaced before occupying. Being a first-time home buyer and I'm going to use my VA loan. Well, what kind of challenge will I have with VA and can I use a Title 1 loan for the repair?
Please read the question and DON'T just fill in the answers with irrelevant facts or advertisements.
1 Answer
- Leo FLv 51 decade agoFavorite Answer
No you can not use VA or FHA for a fixer home. The homes must be in average conditon or better. All repairs would need to be done prior to the loan.
Source(s): Certified FHA Appraiser
