Types of Properties Eligible for a VA Home Loan?

To help you understand what collateral is acceptable at Lendia for obtaining a VA Loan we broke it down into two sections detailing what is eligible and what is not eligible.

Eligible properties or collateral for obtaining a VA Loan with Lendia:

• Single Family Dwellings, including townhomes and row homes
• 2-4 Family Dwellings
• Condominiums and Site Condominiums – For Condos the project has to be approved
• Planned Unit Developments (PUD)
• Doublewide Manufactured Housing – acceptable only if it has characteristics of site built housing and is legally classified as real property and confirms to all local building codes in the jurisdiction in which they are permanently located.
• New Construction – need 1 year builder warranty and 10 year protection plan
• Properties on leased land (need lease approved)

NOTE: Properties can not be vested in the name of irrevocable trust

Ineligible properties or collateral:

• Mobile Homes
• Mixed Use properties
• Multi family properties with more than 4 units
• Manufactured condos
• Bed and Breakfast properties

Agricultural-type properties (such as farms, orchards or ranches) where income is being produced from the property