VA Makes Changes to CL-100 and Repair Guidelines
July 07, 2022 at 21:41
The Department of Veterans Affairs announces policy changes in Wood Destroying Pest Inspection fees and resulting repair costs.
Effective immediately, the VA is now allowing Veterans to be charged for the CL100 and repairs associated with termite damage. This was previously allowed in certain areas but it now opens up more areas where this can be allowed.
Termites and other wood destroying pests are on the rise and a pest inspection report is highly encouraged. If repairs are required, they must be completed prior to closing.
This policy is effective immediately and since Veterans may need to pay for the repairs found, in order to ensure compliance with Minimum Property Requirements, Veterans Affairs suggests, "Veterans are encouraged to negotiate the cost of the wood destroying pest inspection and repairs with the seller."
The Department of Veterans Affairs is a Cabinet Level Executive Branch of the United States Government. They provide life-long healthcare services to military veterans. See more information about VA financial support at https://www.mortgage-rates-today.com/mortgages/va-loan/florida-fl/.
Mark Verhoeven, the CEO of Mortgage Rates Today, talks about how this will be beneficial for our Military Service Members by saying, “This new Policy will allow Veterans to have a better chance of competing with other loan types due to fewer closing costs charged to the seller. As a huge advocate for Veterans and active duty military, Mortgage Rates Today is excited this new policy will help our clients increase the chances of home ownership. In regards to the extra fees charged to the VA applicant, our NO LENDER FEE policy on all VA Loans puts our clients in a better position to absorb any extra fees this policy change causes better than other Lenders. For more information on how Mortgage Rates Today can help you make smart financial decisions see https://mortgage-rates-today.business.site/ ."
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