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Topic 18. Veteran Building His/Her Own Home
March 11, 2019
This Chapter has been revised in its entirety.
a. Veteran Building a Home
If a Veteran, acting as a general contractor, is building a home for his/her own occupancy, the appraisal must be ordered as "existing" construction.
b. No ID Number or Warranty
A VA builder ID number and a construction warranty are not required.
c. Veteran’s Statement
The lender must obtain the Veteran’s signed acknowledgement that no construction warranty is provided and that VA will not assist with any construction defects.