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If the property doesn’t appraise at a value that’s high enough to get the loan, you have a few options. Please note that an appraisal isn’t the same as an inspection. A VA-approved appraiser will also appraise the house to make sure it meets basic property condition requirements (called minimum property requirements, or MPRs), and will provide an opinion of value on the house. We strongly recommend that you get an inspection to check for any major defects before you purchase your home. Using your VA home loan benefit: working with a Realtor and lender
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Read about the VA funding fee and other loan closing costs Decide how much you want to spend on a mortgage-and be sure to include closing costs in the overall price. Go over your credit profile, income, expenses, and monthly budget to make sure you’re ready to buy a home. You’ll need to show your COE to your lender as proof that you qualify for the home loan benefit. Apply for your VA-backed home loan Certificate of Eligibility (COE).