To Helen above, you can apply to get on the VA panel, but unless VA sees a need in your area for more appraisers on their list, for that particular area, the list is generally closed. I had to wait 25 years to be asked by the VA to get there. FYI
I want to know what happens when the work is not done in 90 days. These loans dont get a guaranty until the work is done as I understand, so I assume this is a 90 day lock. But I have done enough reno to know these projects routinely get delayed. what happens then? Who is taking on the interest rate risk? Tbis is why we have been reluctant to take these on
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To Helen above, you can apply to get on the VA panel, but unless VA sees a need in your area for more appraisers on their list, for that particular area, the list is generally closed. I had to wait 25 years to be asked by the VA to get there. FYI
I want to know what happens when the work is not done in 90 days. These loans dont get a guaranty until the work is done as I understand, so I assume this is a 90 day lock. But I have done enough reno to know these projects routinely get delayed. what happens then? Who is taking on the interest rate risk? Tbis is why we have been reluctant to take these on