Ok, I have rewrote this post about 3x in trying to word this, so let me start again.


1.  I have the ability of purchasing a 2 Story home that has been refurbished with Roof, Windows, Hard Wood Flooring, Carpet, Painted, totally rebuilt a detached 2 car garage, on a 15500sq ft Lot, and had all the utility appliances (i.e. Hot water, Furnace, Central Air, and Water Softner, & Hot Water Heater) replaced, and carpentary throughout the home.


2.  I am a retired veteran. and able to use a VA Loan with VA Disability on my VoE.


3.  When I attempt to place the amount of this purchase and use USAA for a VA Loan it will only except as a minimum amount as 50K.  I have the ability to pick this home up for $28.5 and this is only the cost of materials from the community development board and I have been given first crack at being able to purchase this home, as I would spend $50K in the dump I live in to be this sound of a new home and a no brainer purchase. and would make for a awesome new home for my wife and I.  BUT, I only get the "We don't offer unless you go in debt for more then $50K".


4.  I inquired with my local bank whom doesn't do VA loans and recommends me to use my main bank.. Well guess what, that's USAA and that according to my previous is a "Fail".


5.  Is it written some where as a threshold of money you have to start with to get a VA Loan, or is this request just peanuts and not worth your time? 






We're using a local bank for our VA. Bank 34. I would suggest looking into local banks


I apologize for my delayed response. I talked with an expert here at USAA and here is what he had to say:


You are correct, USAA’s current minimum loan amount for a first mortgage is $50k. This is not specific to VA loans nor is it a VA requirement. If the property needs repairs or completion of renovation, VA loans can be difficult to close. Generally, A VA appraisal report will note anything relating to safety, structural soundness, and the sanitary condition of the home. If so noted, all repairs or issues mentioned will have to be addressed prior to funding the loan. FHA has a rehabilitation loan option you may want to consider. If you have equity in any other properties, a home equity line of credit could be a potential solution as well.


I hope this helps. Thank you for posting!