BREAKING NEWS Regarding the VA Appraisal and MPRs

TL/DR: The VA is asking YOU, the PUBLIC, to comment on possible VA appraisal changes regarding property condition and repair requirements. This is a REALLY important chance to make your voice heard. Click the link to leave a comment!

From now until Feb 9, 2024, the Department of Veterans Affairs (VA) is looking for your input! They're planning to update the rules about what makes a house eligible for a VA loan.

This is a BIG DEAL because these rules, known as Minimum Property Requirements (MPRs), decide which homes our Veterans can buy using VA loans (or at a minimum, what repairs have to be addressed before closing).

Have you ever heard (or yourself thought) that the VA appraisal is "more difficult," requires more repairs, or makes it harder to get your offer accepted than other loan types? 

While there are truths which combat those stigmas (i.e., the VA appraisal isn't as bad as some people think), there ARE areas for improvement, and the VA wants to know what YOU think they are.

You get the chance to potentially MAKE A DIFFERENCE instead of worrying about something you feel hopeless about.

How Can You Help?

Go to HERE and enter a comment with your thoughts.

What Should I Say?

Here are some examples of questions from the VA:

1. The advantages/disadvantages of VA MPR guidelines vs Conventional guidelines

2. What VA policies or processes could be streamlined/modified for enhance the VA loan?

3. General suggestions for VA MPR improvements

4. Should VA replace their MPR requirements with Conventional?

Why Does This Matter?

Your feedback will help make the VA loan process smoother for everyone involved – Veterans, sellers, and Realtors. Plus, it's about making sure our Veterans have access to great homes. 

Who Will It Affect?

If changes are made, it'll impact not just our Veteran buyers but also loan officers, Realtors, VA appraisers, and even those who invest in the housing market in a roundabout way.

The Big Picture:

Last year, a law was passed to look into these property rules for VA loans. This is our chance to be part of shaping these rules.

So, let's take advantage of this opportunity!

Read the Bulletin HERE