{"data":{"id":"us/38-cfr-36.4355","jurisdiction":"us","citation":"38 CFR 36.4355","heading":"Loans, first, second, or unsecured.","body":"Loans for the purchase of real property or a leasehold estate as limited in the regulations concerning guaranty or insurance of loans to veterans, or for the alteration, improvement, or repair thereof, and for more than $1,500 and more than 40 percent of the reasonable value of such property or estate prior thereto shall be secured by a first lien on the property or estate. Loans for such alteration, improvement, or repairs for more than $1,500 but 40 percent or less of the prior reasonable value of the property shall be secured by a lien reasonable and customary in the community for the type of alteration, improvement, or repair financed. Those for $1,500 or less need not be secured, and in lieu of the title examination the lender may accept a statement from the borrower that he or she has an interest in the property not less than that prescribed in § 36.4354(a).","path":["Title 38—Pensions, Bonuses, and Veterans' Relief","CHAPTER I—DEPARTMENT OF VETERANS AFFAIRS","PART 36—LOAN GUARANTY","Subpart B—Guaranty or Insurance of Loans to Veterans With Electronic Reporting"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-38.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:50Z","sha256":"efa46be9c521641ee857707ddb9754bfdb6f92bb74fed7acbdc541d40cb2f779","source_id":"us-cfr","stale":true,"prev":"us/38-cfr-36.4354","next":"us/38-cfr-36.4356"},"notice":"GroundRules: Original legal text. Not legal advice."}