VA home loan requirements require that condos and townhomes have to be on the VA approved condo list before VA will provide financing for active military and veterans to purchase condos and townhomes using VA financing. There are many requirements a condo/townhome project have to pass before VA will add that condo/townhome complex to the VA approved list. Among these requirements are:
- Project has over 50% of the units occupied by owners
- Less than 15% of the units 30 days or more late on HOA dues
- Project has adequate cash reserves set aside for maintenance
- Project is not in litigation
There are some very nice condo projects across the state of California that are on the VA approved condo list. Breeza a condo project in downtown San Diego for example is now on the list. Active military and veterans are able to purchase with 100% financing attractive newer condo such as Breeza in tremendous downtown locations close to San Diego Bay, Little Italy and other attractions downtown. These condos offer close proximity to military bases for active military members and amenities such as fitness centers, secured parking and rooftop terraces with views.
There are hundreds of other VA approved condos across San Diego County, send us an email at homeloan8@gmail.com or call 858-922-7899 if you would like us to search if a condo or townhome you are interested in anywhere in California is VA approved. A short ample of some other condos in San Diego that are VA approved:
- Bridgeport at 4S Ranch
- A Loft Cortez Hill
- Aqua Vista in Little Italy
- Amante at 4S Ranch
- Atlas
- Atria
- Gianni at 4S Ranch
- The Egyptian
- Solara Lofts
And some highlights if VA loans in California today:
- You can qualify for a VA loan in California only two years after a short sale, foreclosure or chapter 7 bankruptcy
- VA loan limits go up to 100% financing to $1 million in much of the Bay Area and $697,000 for much of Southern California Coast
- If you receive VA disability pay the VA funding fee is waived
- You can get a VA cash out refinance loan to 95% of your home’s value
Rob Chomentowski
858-922-7899
Sr. Loan Officer (and VA specialist)
VA Financing Approved For Breeza Condos Downtown San Diego is a post from: VA Home Loans Call Rob 858-922-7899
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