All right, let's be real for a minute. Most people think of a house with a yard and a two-car garage when they think about using their VA loan benefit. And that's a great dream. But what about condos? I think a lot of buyers are missing out on the chance to buy a condo, which is becoming one of the best-kept secrets in the VA lending world. Less upkeep, shared amenities, great locations near military bases or downtown areas, and a price that makes sense for a service member's budget. According to the Department of Veterans Affairs, the VA home loan program bounced back in fiscal year 2025, with more than 528,000 loans guaranteed. That is about a 27% increase from the year before. More and more of those buyers? They picked condos.
But there is a catch. It's not as easy to buy a condo with a VA loan as it is to buy a single-family home. Before your loan can close, the VA has to approve the condo development itself. A lot of buyers get stuck because they find their dream unit and then find out that the building isn't on the VA's list of approved buildings. I've seen it happen too many times to count. Let's go over the whole process, from what VA approval really means to how to find condos that meet the requirements and the financial benefits that make this path worth taking. This guide will give you everything you need to know to move forward with confidence if you are a veteran or active-duty member thinking about living in a condo.
Yes, in short. Here's a longer answer: Yes, but there are rules. The VA loan program can be used to buy more than just single-family homes. You can get a loan for a condo, townhouse, or even a property with up to four units as long as you plan to live in one of those units as your main home. You don't have to live in a white-picket-fence house if you get help from the Department of Veterans Affairs. One of the things I like best about this program is how flexible it is.
But this is where it gets a little different from buying a regular house. For a single-family home, you only need to meet the borrower's requirements and the property needs to pass a VA appraisal. The VA has to approve the whole condo development, which adds an extra step. It's not just your unit. The entire project. When you buy a condo, you also buy into a community that is run by a homeowners association. Before the VA backs your loan, it wants to make sure that the community is financially stable and well-run. That keeps you safe, keeps the lender safe, and keeps the VA loan program healthy for military buyers in the future.
I've worked with buyers who found the perfect condo in a great neighborhood, but then they found out during the financing process that the complex had never applied for VA approval. It's annoying, but it can be avoided. If you look at the VA's condo database early on in your home search, it will save you a lot of trouble later. AmeriSave can help you verify everything before you even make an offer.
A VA-approved condo is a condo development that the Department of Veterans Affairs has looked at and agreed to for VA-backed financing. There is no approval at the level of each unit. The VA looks at the whole project, including its governance, finances, insurance coverage, legal structure, and the ratio of owner-occupied units to rental units. After that review, all of the project's eligible units can be financed by the VA.
Risk management is the basis of the VA's review process. Properties with shared ownership have different risks than single-family homes. Every owner in the building feels the effects of a HOA that mismanages money, skips maintenance, or lets insurance run out. The VA wants to make sure that the community you're buying into won't cause problems that could put your investment or the government's loan guarantee at risk. Chapter 16 of VA Pamphlet 26-7 says that the review looks at the association's finances, insurance coverage, governance documents, occupancy data, and legal standing. It's very detailed, but the main point is to protect the veteran buyer.
Some people hear "VA approval" and think it's the same thing as "FHA approval." No, it's not. The VA and FHA have different certification programs with different requirements. A condo that is approved by the FHA may not be approved by the VA, and the other way around. The only exception is older complexes that got HUD approval before December 2009. These may still fit into the VA's "HUD Accepted" category. But anything newer than that cutoff needs its own VA review.
Let me walk you through the specific standards the VA looks at when deciding whether a condo project qualifies. These aren't suggestions; they're hard requirements, and falling short on any one of them can block or delay approval.
The VA wants to see that the majority of people living in a condo complex actually own their units rather than renting them out. Appraisers may flag a development if owner-occupancy rates fall below 50% for the overall project, according to VA guidelines. The logic is sound. When most residents are owners, there's stronger community investment in upkeep, financial stability, and governance. A building packed with short-term renters tends to have higher turnover, less engagement with HOA decisions, and sometimes deferred maintenance. For newly built projects or recently converted apartment buildings, the VA generally requires that at least 75% of units be sold or under contract before approval can proceed.
A financially stable homeowners association is non-negotiable for the VA. The review examines the association's reserves, budget projections, delinquency rates, and overall fiscal management. No more than 15% of owners can be delinquent on HOA dues for the complex to meet VA standards. That threshold matters because when too many owners stop paying dues, the HOA can't cover maintenance, insurance premiums, or emergency repairs. Special assessments get levied, property values dip, and suddenly every owner is dealing with financial consequences they didn't expect.
Think of it from the VA's perspective. They're guaranteeing a portion of your loan, and if the building deteriorates because the HOA can't fund basic operations, the collateral behind that guarantee weakens. A healthy reserve fund signals that the association can handle routine maintenance and unexpected costs without dumping surprise bills on homeowners. AmeriSave's VA loan specialists review these financial indicators as part of the loan process, giving you a clear picture before you commit.
The condo's HOA must carry adequate insurance covering common areas, shared structures, and liability. The VA expects to see hazard insurance, liability coverage, and fidelity bonds that protect against financial mismanagement by board members or property managers. If the building sits in a flood zone, flood insurance is required on common areas as well.
Maintenance responsibilities also need clear documentation. The governing documents should spell out exactly who handles what: the HOA covers external and shared elements, individual owners handle their unit interiors, and there's no ambiguity about who pays for what when something breaks. Fuzzy maintenance language in governing documents is actually one of the more common reasons VA reviewers request additional information or clarification before granting approval.
The VA reviews the HOA's bylaws, covenants, conditions, and restrictions (CC&Rs) to verify compliance with both VA standards and applicable state and federal law. One of the most common legal hangups involves "right of first refusal" clauses. If the HOA bylaws give the association or other owners the right to match a purchase offer before you can close, the VA may view that as an unreasonable restriction on your ability to sell or transfer the property.
Similarly, bylaws that overly restrict an owner's ability to lease their unit can create problems, because the VA wants active-duty service members to retain the option to rent their condo if they receive PCS orders.
Ownership concentration limits also come into play. No single individual, company, or investor should own more than 10% of units in the complex, according to VA requirements. Heavy concentration of ownership in a few hands raises red flags about control, governance, and potential conflicts of interest.
The Department of Veterans Affairs has a website where you can find information about condos at lgy.va.gov/lgyhub/condo-report. You can look up by state, project name, or condo ID number. The database tells you if a development is accepted, conditionally accepted, HUD accepted, or not accepted at all. It gets updated all the time, and it's the best place to find out if a condo is eligible for VA benefits.
This is how I think you should use it to get the most out of it. Before you even look at a condo you're interested in, go to the VA condo report and search for the development by name and state. You're good to go if it says "Accepted Without Conditions." That status means that VA financing is available for every unit in the project without any extra steps. If it says "Accepted With Conditions," the VA has approved the project but has raised at least one concern. For example, the owner-occupancy rate might be too low or the budget might have a small problem. You can still get your VA loan, but you should be ready to fill out some extra paperwork to show that you agree to those terms.
You don't want to fall in love with a unit only to find out that the building is "Unaccepted" in the database. That name could mean that the project was turned down, but more often than not, the HOA just never asked for VA approval. Your VA loan can't close until that status changes, no matter what. Pro tip: Check the project's acceptance status right before your lender orders the appraisal. This is because the HOA may not send in the required document updates on time, which could change the status of the condo.
Your AmeriSave loan officer can help you check the status of your condo approval early on in the process. This could save you weeks of work on a property that can't support VA financing.
This is the gold standard. A condo development with full VA approval has cleared every requirement without reservations. Every unit in the project qualifies for VA loan financing, and your loan process will look and feel very similar to buying a single-family home. Lenders prefer working with fully approved condos because it simplifies underwriting and reduces the risk of last-minute complications. If you want the smoothest possible path to condo ownership, stick with developments carrying this status.
Conditional approval means the condo project meets most VA standards but the VA has identified at least one area of concern. Maybe the owner-occupancy ratio is hovering near the 50% threshold, or the budget has a line item that needs monitoring. You can still proceed with your VA purchase, but there may be extra documentation involved. Your lender will typically ask you to acknowledge the conditions in writing so the VA knows you understand the situation before closing. Conditional approval doesn't automatically mean something is wrong with the building. It just signals the VA wants both you and the lender to keep an eye on a particular factor.
Historically, the VA used to piggyback off FHA condo approvals, automatically accepting any project that the Department of Housing and Urban Development had certified. That changed in December 2009. Since then, the VA has required its own independent review for new applications. However, condos that earned HUD approval before that cutoff date may still carry the "HUD Accepted" designation in the VA's database, making them eligible for VA financing. It's an older pathway, and fewer and fewer condos fall into this bucket as buildings age and ownership changes, but it still exists.
You found a great unit, looked it up in the VA's database, and it isn't listed or is marked as not accepted. What do I do now? Don't worry at first. Many condos haven't gone through the VA approval process because no one asked them to. That's not the same as being turned down. Your lender can ask the condo association's management company or HOA board to send in an application for VA approval.
The HOA needs to collect and send in a set of governing documents, such as CC&Rs, bylaws, articles of incorporation, the current budget, a reserve study, meeting minutes, and proof of insurance. The VA now accepts electronic submissions through its WebLGY portal, which has made the intake process easier than it was with the old paper-based system. After you send in your application, a VA Regional Office Staff Appraiser checks to make sure it is complete, and the VA's legal team checks to make sure the documents follow the rules. Industry sources say that approval usually comes within 30 days if the submission is clean and complete.
This is what really happens now. Some HOAs will be happy to work together. Some people will put off or refuse to take part because they don't understand the process, don't want to spend the time on paperwork, or are afraid of what the VA might find. If you're having trouble with your HOA, having your real estate agent and lender explain to the HOA board the benefits of VA approval, especially that it opens the building to a whole new group of qualified buyers, can sometimes help things move along. AmeriSave has worked with HOA management companies before to make this process easier for buyers.
The path gets harder if the condo was turned down before. The VA doesn't have a broad "spot approval" option like the FHA does right now. This means that even if the whole project doesn't qualify, some units can still qualify. The whole development needs to pass. If the HOA had been turned down before, they would have to fix whatever problems led to the rejection and then apply again. That could mean changing rules that are too strict, building up financial reserves, or settling legal issues.
The VA's standards can't be met by every condo project. These are the most common problems I've seen when working with military buyers in the DFW area and beyond over the years.
Owner-occupancy rates below 50% happen a lot, especially in condos or buildings in resort areas that are heavily marketed to investors. The VA thinks that when most units are rented out, there is a higher risk of community instability and less property maintenance. High concentrations of rentals can also lower resale values, which is exactly what the VA's review process is meant to find before you buy.
Another common reason for a deal to fall through is that the HOA is not financially stable. The VA won't approve the project if the association's reserves run out, if more than 15% of members are behind on their dues, or if the budget shows that it is always short. People may also be worried about special assessments that have already been charged or are expected to be charged. These are costs that homeowners didn't plan for and could put a strain on their finances.
Restrictive bylaws, especially those that say you can't lease a property or give someone else the right of first refusal, make it hard for the VA to do what it needs to do. The VA requires that active-duty members be able to rent their unit if they are reassigned. Another warning sign is when the HOA is involved in a lawsuit. The VA may wait to give approval or deny it if the association is involved in a lawsuit, especially if the outcome could affect the building's finances or how it is run. Lastly, some developments are called condo-hotels or have rental pool arrangements, which means that owners share the money they make from renting out units. The VA usually doesn't give VA money for these kinds of projects.
The financial advantages of VA financing apply to condo purchases just the same as single-family homes, and honestly, some of those benefits matter even more in the condo context because condos already carry HOA costs that affect your monthly budget.
This is the headline benefit, and it's a big one. VA loans allow eligible borrowers to purchase with zero money down. On a $300,000 condo, that's $300,000 you don't need sitting in a savings account before you can buy. Conventional loans typically require at least 3% to 5% down, and some condo lenders want 10% to 25% for non-owner-occupied or investment units. VA buyers skip all of that. You also don't pay private mortgage insurance, which conventional borrowers with less than 20% equity typically owe every month. According to Freddie Mac, PMI generally costs somewhere between $30 and $70 per month for every $100,000 borrowed. On that $300,000 condo, that's potentially $90 to $210 per month in insurance you'll never have to pay with a VA loan.
VA loans consistently carry some of the lowest interest rates available in the mortgage market. Because the federal government partially guarantees the loan, lenders face less risk and pass those savings along through lower rates. Even a quarter-point difference in your interest rate can save thousands of dollars over the life of a 30-year mortgage. When you're already paying monthly HOA dues on a condo, every fraction of a percent matters for keeping your total housing cost manageable. AmeriSave's VA loan rates reflect this government-backed advantage, and you can check current rates to see how they compare against conventional and FHA options.
In place of monthly mortgage insurance, VA borrowers pay a one-time funding fee at closing. For first-time VA loan users purchasing with no down payment, the current fee sits at 2.15% of the loan amount, according to the Department of Veterans Affairs. On a $300,000 condo, that works out to $6,450. If you've used VA benefits before and are putting no money down, the fee increases to 3.3%, which equals $9,900 on that same loan amount. Putting money down reduces the fee: 5% or more drops it to 1.5%, and 10% or more brings it to 1.25% regardless of whether it's your first or subsequent use.
You can roll the funding fee into your loan amount rather than paying it out of pocket at closing. That means less cash needed upfront, though you will pay interest on that amount over the life of the loan. Veterans receiving VA disability compensation at any level, certain Purple Heart recipients on active duty, and surviving spouses receiving Dependency and Indemnity Compensation are exempt from the funding fee entirely. Starting this year, VA borrowers can also deduct the funding fee on their taxes when purchasing a home, which is a new benefit worth discussing with your tax advisor.
The VA limits the closing costs that lenders can charge veterans, creating another layer of financial protection. Seller concessions are capped at 4% of the home's reasonable value per VA rules, but within that framework, you can often negotiate for the seller to cover origination fees, title charges, or other closing expenses. With AmeriSave, you'll get a transparent breakdown of your estimated costs early in the process so there are no surprises at the closing table.
The whole process is like buying a regular VA home, but there is one important step: checking to see if the condo project has VA approval. Let me explain it to you in the order that you'll see it.
First, make sure you qualify for a VA loan and get your Certificate of Eligibility (COE). You can ask for this through your lender, the VA's eBenefits portal, or by mail using VA Form 26-1880. In many cases, AmeriSave can get your COE electronically, which speeds things up. Your COE checks your service history and confirms your eligibility, which is what the VA uses to decide how much of your loan it will guarantee.
Next, get your VA loan preapproved. Preapproval tells sellers you're a serious buyer with financing already in progress. It also gives you a realistic budget so you know what price range to look in. Your lender will look at your credit, income, debts, and leftover income to figure out how much money you can borrow. There is no set minimum score for VA loans, but most lenders look for scores in the low to mid-600s or higher. They also look at your whole financial picture, including how stable your job is and how much you owe each month.
Now it's time to do the condo-specific homework. Before you make an offer on a condo, check the VA's list of approved condos at lgy.va.gov/lgyhub/condo-report. Type in the name of the development and the state. You can move forward with the project if it is approved. If it's not listed, talk to your AmeriSave loan officer about whether initiating an approval request is feasible within your purchase timeline. Keep in mind that your lender can't order a VA appraisal until the condo is on the VA approval list. This means that delays in getting approval will directly affect when you can close.
After you find a VA-approved condo and make an offer that is accepted, your lender will order a VA appraisal. The appraiser looks at the condition and market value of each unit, just like they would for a single-family home. However, they pay more attention to the building's condition and the maintenance of the common areas. The VA's Minimum Property Requirements apply to condos just like they do to houses, so the unit needs to be safe, structurally sound, and sanitary.
Once the appraisal is done and your loan is approved, you'll be ready to close. For a condo project that has already been approved, the time between accepting an offer and closing usually takes 30 to 45 days, but this can change. If the condo needed new VA approval, add the time it takes to get that approval on top of that. When you close, you'll sign the loan papers, pay any closing costs that the seller didn't cover, and the funding fee will either be added to your loan or taken out of your closing funds if you choose that option.
This is a point that matters a lot and sometimes gets glossed over. The VA requires you to intend to occupy the condo as your primary residence. That means you need to move in within a reasonable timeframe after closing, which in most cases translates to about 60 days. You can't buy a condo with a VA loan and immediately turn it into a rental property. The intent at closing must be genuine.
Now, life happens. Military life especially happens. If you receive PCS orders, get deployed, or experience a family emergency after closing, you're not in violation as long as your original intent was to occupy the property. Many service members do eventually lease out their condo after meeting the initial occupancy requirement, and that's permitted under most circumstances. Just keep documentation of whatever life event prompted the change, because if the VA or your lender ever questions the situation, a paper trail of legitimate orders or employment changes proves your good faith.
Your spouse can also satisfy the occupancy requirement in some situations, particularly if you're stationed at a distant location and your spouse moves into the condo within the expected timeframe. Check with your AmeriSave loan officer about how spouse occupancy applies to your specific circumstances, because the VA evaluates these scenarios on a case-by-case basis.
A lot of first-time VA buyers I talk to aren't sure if a condo or a house is the best choice for them. There isn't one right answer, but knowing the pros and cons can help you make a better choice.
Condos usually cost less than single-family homes in the same area. This means that your VA loan covers more of the cost of the condo and your monthly mortgage payment is often lower
The National Association of REALTORS® says that in most markets, the median price of a condo is lower than the median price of a single-family home. This makes condos a good choice for veterans who want to stop renting and start building equity. On the other hand, condos have HOA fees that you have to pay every month, and those fees can go up over time. A $250 monthly HOA fee adds up to $3,000 a year, so make sure to include that in your budget along with your mortgage payment, property taxes, and insurance.
Military buyers love condos because they are easy to take care of. If you're deployed or working long hours, the last thing you need is for yard work, roof repairs, or painting the outside of your house to take up your free time. Condo associations take care of the outside, the landscaping, and the upkeep of the common areas, so you can focus on other things. You don't usually get extras like fitness centers, pools, and community rooms with a single-family home.
The main trade-off is space. Condos usually have less square footage than houses, and you won't have a yard just for you. You also share walls, so noise from neighbors can be a problem. Because of the way the HOA is set up, you have to follow the rules about pets, paint colors, parking, and other things. That structured space is comfortable for some buyers. For some, it's too much. If you go in with clear expectations, there is no wrong answer.
The condo purchase is just the start. You might want to refinance later, and VA loans are also great for that. The Lowering of the Interest Rate The IRRRL, or streamline refinance, is a type of refinance loan that is made just for veterans who already have a VA loan and want to lower their interest rate or switch from an adjustable rate to a fixed rate. The IRRRL has a very low funding fee of only 0.5%, and the paperwork needed is much less than for a regular purchase loan.
A VA cash-out refinance is another way to get some of the value of your condo as cash if you've built up equity in it. You can borrow against the equity in your home with a cash-out refinance to pay off debts, make improvements to your home, or meet other financial needs. According to current VA schedules, the funding fee for a cash-out refinance is 2.15% for the first use and 3.3% for each use after that. AmeriSave can help condo owners with both IRRRL and cash-out refinance loans, so you have choices no matter what makes sense for your money.
After years of helping buyers through this process, I've noticed some things that make some transactions go smoothly and others go badly. Let me tell you what works.
The VA approval list is a good place to start your condo search. It may seem obvious, but a lot of buyers find a unit first and then check to see if they are approved. Changing that order will save you emotional energy and possibly months of waiting. Find a real estate agent who knows how to handle VA transactions and the condo approval process. Not every agent does, so it's helpful to have someone on your side who knows the process to avoid misunderstandings and missed deadlines.
Get your lender to check on the condo's approval status on their own. Don't just believe what the seller or listing agent says about a condo being VA-approved. You can double-check with AmeriSave or by searching the VA's database yourself. If the HOA doesn't send in new paperwork, the status can change. For example, a project that was approved six months ago might have conditions now.
Add extra time to your purchase contract if you're thinking about buying a condo that isn't approved. Include backup plans that will keep you safe if the approval process takes longer than planned. When the HOA works together and sends in a complete package, a 30-day approval window is reasonable. But if the submissions are incomplete or the management companies don't respond, that time frame can get a lot longer. From the start, set aside money for HOA dues. When figuring out how much you can afford, keep in mind that your monthly housing costs include your mortgage payment, property taxes, homeowners insurance, and HOA fees. Your AmeriSave loan officer will take these into account when deciding if you qualify, but it's helpful to have your own number in mind before you start looking.
Buying a condo with a VA loan adds one extra layer of homework compared to a traditional home purchase, but the rewards more than justify the effort. You get access to zero down payment financing, competitive interest rates, no monthly mortgage insurance, and a property that someone else helps maintain. For military buyers who value convenience, location, and affordability, condos check a lot of boxes.
The key is doing your research upfront. Check the VA's condo approval database before you fall in love with a unit. Understand the approval categories and what they mean for your timeline. Know the requirements the HOA needs to meet, and ask your lender tough questions about the condo association's financial health and governance. AmeriSave's VA loan team works with condo buyers every day, and getting an early start on your preapproval puts you ahead of the curve. Your service earned you this benefit. Use it wisely, use it confidently, and don't let the extra condo steps slow you down.
Yes, but before your loan can close, the complex needs to get the VA's OK. Your lender sends the VA an application along with the HOA's rules, budget, insurance certificates, and minutes from meetings. The VA now processes these submissions electronically through its WebLGY system, and approvals usually take about 30 days after the package is complete. You can get the process started by having AmeriSave's VA loan specialists work with your HOA management company. Remember that lenders can't order a VA appraisal until the project is on the list of approved condos. This is why it's a good idea to add extra time to your purchase contract.
According to VA rules, appraisers may flag a development if the overall project has less than 50% owner-occupancy. The VA usually won't approve new condo projects or projects that have just been converted unless at least 75% of the units have been sold or are under contract. The owner-occupancy threshold helps the VA keep communities stable and lower the risk for both the buyer and the loan program. If you're looking at a condo and aren't sure what the occupancy ratios are, your AmeriSave loan officer (https://www.amerisave.com/loan/va-loan) can ask the HOA for that information as part of the due diligence process. Condos in places where a lot of investors live or rent out their homes for vacation may have trouble meeting this standard.
The VA funding fee for buying a condo is the same as the rates for any VA-backed purchase loan. According to current Department of Veterans Affairs schedules that are in effect until November 2031, first-time VA loan users who don't make a down payment pay 2.15% of the loan amount, and subsequent users pay 3.3%. If you put down 5% or more, the fee goes down to 1.5%. If you put down 10% or more, the fee goes down to 1.25%, no matter how many times you've used it before. The fee for a first-time home buyer on a $300,000 condo is 2.15%, or $6,450. Certain Purple Heart recipients and surviving spouses who get DIC are also exempt, as are veterans with disabilities that are related to their service. You can look at current VA loan options on AmeriSave (https://www.amerisave.com/loan/va-loan) to see how the funding fee affects your total costs.
No, VA condo approval doesn't have an expiration date like FHA approvals do. The VA will keep a condominium project on its list of approved projects as long as the governing documents stay up to date and the HOA doesn't make any changes that would make it ineligible. FHA condo certifications, on the other hand, have to be renewed every three years. This permanent approval status is good for VA condo buyers because it lowers the risk of approval running out between the time you find a property and the time you close on it. The VA can change a project's status, though, if the association's finances get worse or the rules for how it is run change. Before the seller orders an appraisal, check with AmeriSave's VA loan team (https://www.amerisave.com/loan/va-loan) to see what the current status is.
Yes, most of the time. The VA wants you to plan to live in the condo as your main home when you close, and most lenders want you to move in within 60 days. But if your situation changes after you meet the initial occupancy requirement, like getting PCS orders, going on deployment, or having a family hardship that meets the requirements, you can usually rent the unit without breaking your loan terms. Keep a record of the orders or life event that led to the change, and talk to your loan servicer before the change happens. Some VA buyers later use an IRRRL (https://www.amerisave.com/loan/va-loan) to refinance to a lower rate while keeping the property as a rental. This lets them build long-term wealth through real estate.
If the HOA doesn't want to be a part of the VA approval process, your VA loan probably won't close on that condo. Some associations say no because they don't understand the process, think it will take too long, or are worried about having to share financial information. In those cases, having your real estate agent or lender explain to the board how VA approval helps the building, such as by making it available to thousands of qualified veteran buyers, can sometimes change their minds. If the HOA still says no, you'll have to look at other VA-approved developments or think about getting a different loan. AmeriSave has more than just VA loans. They also have conventional and FHA loans that might work for a specific condo where VA approval isn't possible.
No, they are two different programs with different rules and ways of reviewing them. The FHA or VA may approve a condo project, both, or neither. The VA looks at projects on their own, paying special attention to rules about leasing and ownership, owner-occupancy ratios, and compliance with governance. The FHA review puts more weight on the overall financial health and adequacy of insurance. It also has a renewal cycle every three years, which the VA does not require. One big difference is that FHA allows spot approvals for individual units in some cases, but the VA says that the whole development must be approved before any unit can get financing. If you're trying to decide between FHA and VA financing for a condo, AmeriSave can help you weigh the pros and cons of each and figure out which one is better for you.
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