Borrowers can use their VA home loan benefits to purchase a condominium. ... The VA must approve a condo complex in order for a borrower to purchase a unit. Hundreds upon hundreds of condo developments across the country are already on the approved list.
Does VA allow condo spot approval?
Put simply, the answer is yes. While there are some differences that distinguish the VA loan approval process for condos, the good news is that using your VA mortgage to purchase a condo is as easy as using it to purchase a single-family home.
How do I know if a condo is VA approved?
In order to determine if a condo is VA approved or not requires a visit to the VA's website. From there, if you know the name of the condo association, you are in luck. Just enter the name and you'll have your answer within seconds.