The VA requires a condo project to be deemed eligible for a VA home loan.  There are 2 ways to determine VA condo mortgage eligibility:

  • I.  Pre-approved VA Condos
  • II. Requesting Condo Approval from VA

The common method used for VA condo eligibility is verifying VA condo pre-approval.  Either way,  when using a VA home loan the subject condo must be considered eligible by VA.

Pre-approved VA Condos

VA maintains a list of condo projects that are currently eligible for VA condo financing.  VA eligible condos come in 2 varieties:

  • 1. VA approved with conditions
  • 2. VA approved without conditions

VA approved with conditions” means the mortgage lender must determine and satisfy whatever the “condition(s)” is/are prior to closing a VA loan on that particular condo.

For both “with AND without conditions” VA condo approvals the lender must verify additional information such as adequate blanket insurance coverage.

VA pre-approved condo listVA Approve

Requesting Condo Approval from VA

If the condo being financed is not on the VA pre-approved condo list, a mortgage lender can request VA condo approval.  The VA reviews the condo project to determine if it meets VA condo eligibility requirements.  Submitting a condo for VA approval may take up to 4 to 6 weeks.