VHDA Loan - Appraisal requirements

[spieldberg]

Hello-

Does a VHDA Loan have any specific appraisal requirements?

Thank you.

 

[ghrousseau]

Hello-

Does a VHDA Loan have any specific appraisal requirements?

Thank you.

They tend to follow FHA as far as appraisal guidelines. They also want a well and septic certification or inspection even if the property is not new construction. Most VHDA loans these days are VHDA/FHA because lenders can then follow FHA underwriting guidelines. VHDA does require an exception for parcels above a certain acreage. I think it is two acres or larger, but that is a VHDA underwriting exception.

Most of their guidelines are on their website:

http://www.vhda.com/vhda_com/apps/DocumentLibrary/document_load.asp?docid=2910

Good luck with it.