How a VA Loan Can Protect You

A VA loan can protect you. Here's how:

1. Homes that were completed less than a year before purchase with VA financing must be inspected during construction by the VA and must meet VA quality requirements.
2. The builder must be approved by the VA.
3. The VA can suspend builders from the approved list for those who don't follow VA guidelines on fair lending or decline to sell a home because of race, color, religion, gender, disability, or nationality.
4. The builder is required to give the veteran a one-year warranty signifying the home has been constructed to VA-approved plans and specifications.
5. The borrower obtaining a loan may be charged only the fees and other charges designated by the VA as allowable.