When a veteran applies to a lender for a VA loan with the intent to purchase a brand new home, the VA needs to approve the construction project. The VA reviews the construction of the property, HOA rules and regulations, and other legal matters with regards to a new build. From my experience and speaking with other veterans, it is currently taking the VA 3-4 months to approve new construction that will be purchased by veterans using a VA loan. This petition is for the purpose of mandating the VA take no longer than 30 days to approve or disapprove a new construction. This will help veterans, builders, and lenders. There is no reason why a brand new completed home should sit unoccupied for weeks at a time while the veteran, builder, lender, and others are waiting for VA approval.
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