Required Mortgage Documents for a Kentucky VA Home Loan Mortgage New Construction
Kentucky VA Home Loan Mortgage New Construction
REQUIRED DOCUMENTS FOR A KENTUCKY VA MORTGAGE
The following documentation is required on all new construction that is (existing
HUD Form 92544/VA Form 26-1859, Warranty of Completion of Construction or 10 Year Warranty from an approved HUD warranty provider.
HUD Form 92541, Builder’s Certification of Plans, Specs & Site or Cabo Certification from the Builder
HUD Form NPCA-99a, Subterranean Termite Treatment Builder’s Certification.
HUD Form NPCA-99b, Soil Treatment Guarantee.
If subject property has a private well or septic system, Approval and Permits from the state or local health department are required.
If any portion of the subject property is located within a FEMA Flood Zone, the property is not eligible for financing unlessone of the following requirements are met:
A Letter of Map Amendment (LOMA) or a Letter of Map Revision (LOMR) must be obtained to show proof that the subject property has been removed from the FEMA Flood Zone.
A FEMA National Flood Insurance Program Elevation Certificate documenting that the lowest floor (including any basement) is at, or above the 100 year flood elevation in compliance with the National Flood Insurance Program.
In addition to the above documentation, proposed and under construction also requires additional documentation found in the VA Lender’s Handbook, Chapter 7.
VA Form 26-1852, Description of Materials (or a form which substantially conforms) signed by builder and veteran.
Plot Plan including location of well/septic systems if applicable.
All Exterior Building Elevations(front, rear, sides)
Foundation or Basement Plans
Plan of all Floors
Wall Section
One of the following requirements must also be met if the appraisal is completed prior to substantial completion of construction:
Building Permit & Certificate of Occupancy from local building authority.
10 Year Warranty from an approved HUD warranty provider and 1 year VA builder's warranty.
Or property must be inspected during construction by a VA or HUD approved inspector:
An Initial Inspection is required when either excavation is complete and is ready for footings and foundations (in areas when it is advisable to have bearing soil inspected prior to construction) or when foundation walls are complete and ready for backfill (in areas where soil conditions are uniform and free from faults likely to cause foundation problems).
A Framing Inspection required when the building is enclosed with framing, plumbing, heating, electrical, and insulation is complete and visible.
And a Third and Final Inspection when the property is completed and ready for occupancy..
