Home Buying in Oakdale>Question Details

inmemroger20…, Home Buyer in Oakdale, NY

Can I use my VA loan to purchase Co_OP property?

Asked by inmemroger2002, Oakdale, NY Fri Jun 7, 2013

I am a Navy Veteran, Married for 19 years we have good credit. I am currently Disabled and eligible for A VA Loan.

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I checked with a lender I work closely with... He said, VA loans have to approve the Condo developments, and that there are few on Long Island. There are many in NYC. He also said, if you have some down payment money, you should consider a convential loan, which will allow you to purchase a Co-Op.
0 votes Thank Flag Link Fri Jun 14, 2013
Most co-ops have their own rules and guidelines regarding financing, therefore may not allow such financing; in addition downpayment requirements are different and vary from building to building, therefore be sure to check with management beforehand.....
0 votes Thank Flag Link Fri Jun 7, 2013
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