Buying a condo with a VA Loan
I just helped a VA buyer to close on a condo that needed to get VA approved.
Casey is with the US Coast Guard in Alameda, CA. She lived close to Lake Merritt and wanted to stay in that area. She especially loved the building she lived in.
To buy a condo with a VA loan, the condo complex/HOA (Home Owner’s Association) needs to be VA approved.
In this case, the condo wasn't. But that did not stop us: we requested all HOA documents from the association. The lender submitted them, together with a personal letter from Casey to the VA administration.
We were impressed how fast the VA went through the approval process (the official time they quote is 4-6 weeks).
2 Weeks later, the condo was approved!
Casey is now the happy owner of a beautiful condo. And: VA approval is a one-time thing for a property. All future VA loan applicants can now buy a condo at this complex!
Are you a Veteran or Active Service? Thank You for your service first – and if you are interested in buying, I’d love to help you make your dream come true!!