Condominiums can qualify for a VA guaranteed loan in most circumstances. There are some restrictions:
â€¢Fifty percent or more of the building units must be owner-occupied
â€¢No more than 15 percent of owners can be behind in Homeowners Association (HOA) fees
â€¢If condos are to be newly constructed, 75 percent of the units must be sold prior to allowing VA loans
Gathering this information might extend the loan closing a few days, but otherwise, there is nothing unusual. Our Branch Manager is a disabled vet and is a VA loan guru. We would be happy to help you get the loan. Please contact me at 717-757-5322.