The following properties are eligible for VA financing:
• Detached Single Family Homes
– For new construction the builder must be registered. Use the VA Builder ID Lookup
tool to ensure your builder is registered.
• Multifamily Homes - Up to four rental units, one unit for the veteran to reside, and one business unit.
• Condos - The entire condo project must be VA approved.
• Townhomes - The entire community must be VA approved.
• Manufactured or Mobile Homes - There are strict requirements that these properties must adhere to.
• Modular Homes - These are properties that are partly assembled, transported in pieces, and fully assembled at the homesite. There are stringent requirements for these as well.
• Unconventional Properties – Homes like geodomes, barndominiums, or log cabins are not excluded from financing. However, they need to be typical for the area they are being purchased in. Otherwise the appraiser will have a difficult time finding comparable sales when attempting to appraise the property. This is often the biggest barrier to financing for unique property styles.
You may encounter a lender who tells you that some of the property types listed above do not qualify for VA financing.