HUD home Purchase using a VA Loan .........
Good Evening,
I am wondering please, if I will have any trouble in Purchasing a Property listed on the HUD website as my Primary as my Primary Residence, IF the Property shows that it is " Insured " ?
I know that using a VA Loan , that they have the Strictist Clauses, in that a Property HAS TO be in Move in ready condition, in order for it to qualify under the VA Loan Guidelines . correct ?
I just need a basic Guideline on what WON'T pass via a VA inspection , so I'll know which Houses to Avoid and not even consider, since they'll be more Inclined to not Pass, with X Y Z repairs being needed
Questions:
1. Is there a Rehab type loan ( similar to a 203K that you can use with an FHA loan ), for the Use with a VA Loan ?
2. On the Condition Summary Report on listed HUD properties...... If it shoes that a House needs $3,000 in repairs ( Listed are..... Water Heater needs Replaced, Some Siding needs replaced and the Stove is Missing ) ...... How could I get such a Property to Qualify for a VA loan ?
Could I Pay to have the Repairs completed myself.... I.E. Out of my own Pocket ?
How do you get around repairs that are needed on a Property, when you're wanting to use a VA Loan for the Financing/ Purchase ?
Thank you for the help , It's very much appreciated