Condo (VA)
Buying a condo with a VA loan isn’t much different from buying any other home, but the condo complex must still be VA approved. The purpose of this approval is to ensure that eligible VA loan borrowers aren’t overly burdened by the HOA in any way. Townhouses are also covered by the VA’s approval rules.
If you’re considering a particular condo, make sure the condo complex or development’s HOA has received VA approval. This protects the interests of both the VA loan holders and the government, which backs the VA loans. Any complex you’re considering will have to meet the requirements set by the VA. Download chapter 16 of the Department of Veterans Affairs Lender’s Handbook to see the full list of requirements for VA approved condos. You can also check for approval on the VA’s website.
We’ve made applying easy. To start your loan application and get preapproved click here, to find a local loan officer click here.
