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Government loan requirement question

615 Views | 6 Replies | Last: 6 yr ago by Deats99
Rusty GCS
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AG
Can a house with natural gas lines qualify for a government loan like a VA, FHA, or HUD?

SteveBott
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AG
Not sure your question
Rusty GCS
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AG
Obviously a house has to qualify for a government loan because they don't want to invest in a risk. I was wondering if the house has natural gas if it will still qualify.

http://www.investopedia.com/articles/mortgages-real-estate/11/fha-minimum-property-standards.asp

I pulled this excerpt from the link above

Quote:

Hazards and Nuisances

A number of conditions fall under this category. They include, but are not limited to, the following:

Contaminated soil
Proximity to a hazardous waste site
Oil and gas wells located on the property
Heavy traffic
Airport noise and hazards
Other sources of excessive noise
Proximity to something that could explode, like a high-pressure petroleum line
Proximity to high-voltage power lines
Proximity to a radio or TV transmission tower



If the house has a propane tank on property. Or if it has gas lines to Hook up can either of those be reasons to not qualify for a VA or FHA?
Deats99
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AG
Gas, oil, and electrical transmission lines might be an issue because of marketability). But standard residential stuff would not be a problem.
A good plan violently executed now is better than a perfect plan executed next week.
-George S Patton
SteveBott
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AG
as posted depends. My guess is if the appraiser notes a problem in his report then it would matter. Propane tank should not be. A working oil well in the yard would
histag10
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AG
we have natural gas lines for several appliances in our house (though not hooked up to a propane tank), and we have a FHA loan. The gas lines are run underground.
Rusty GCS
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AG
Just got word back from the lender. Has to be properly vented or capped off if not in use to pass inspection.
Deats99
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AG
OK so your issue is you have unused gas lines in the house. Any plumber can do it.
A good plan violently executed now is better than a perfect plan executed next week.
-George S Patton
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