VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 1 — Minimum Property Requirement Procedures, continued

va-m26-7-ch12-t01

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 1 — Minimum Property Requirement Procedures, continued.

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Verbatim provisions from VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 1 — Minimum Property Requirement Procedures, continued — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 1 — Minimum Property Requirement Procedures, continued

Effective 2026-05-01 · publisher's stamp for this provision

Topic 1. Minimum Property Requirement Procedures Change Date: February 27, 2026 Subtopics g and i, Detached Improvements and SAH RLC Jurisdiction, haves been removed. a. MPRs VA has established Minimum Property Requirements (MPRs) to protect the interests of Veterans, lenders, servicers, and VA. Properties must meet these requirements prior to guaranty of the loan by VA. b. Appraisal is Not a Home Inspection While VA-assigned fee appraisers must note any readily apparent repairs that are needed, it is important to distinguish the differences between a real estate appraisal and a home inspection report. The fee appraiser will not perform operational checks of mechanical systems or appliances. The fee appraiser estimates the value of the property to ensure that it is sufficient for the amount of the proposed loan. c. Safe, Sound, Sanitary MPRs help ensure that the property is safe, structurally sound, and sanitary. The scope of MPRs also includes issues related to the property’s location and legal considerations. d. Appraisal Subject to Repairs to meet MPRs The appraiser will prepare origination appraisals "subject to" the completion of any MPR repairs that appear to be needed and include the contributory value of the completed repairs in the estimated market value. Liquidation appraisals are prepared "as-is" (see Chapter 11, Topic 20 of this Handbook). e. Recommend Repairs, Not Inspections Appraisers must not prepare appraisals subject to inspections. The appraiser must recommend repairs, not inspections, for any conditions that do not appear to meet MPRs. f. Cosmetic Items The appraiser should not recommend repairs of cosmetic items, items involving minor deferred maintenance or normal wear and tear, or items that are inconsequential in relation to the overall condition of the property. While minor repairs should not be recommended, the appraiser should consider these items in the overall condition rating when estimating the market value of the property. g. Home Inspection Recommended After an origination appraisal is completed, the Notice of Value (NOV) that is issued to the Veteran includes a recommendation that the Veteran may wish to obtain a home inspection (see Chapter 13, Appendix A of this Handbook). h. Local Requirements Information about MPRs concerning properties in specific locations are listed by state at http://www.benefits.va.gov/HOMELOANS/appraiser_cv_local_req.asp.

Source: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 1 — Minimum Property Requirement Procedures, continued · source URL · snapshot 9df31307e7a2b3e6

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