When you are preparing to list your property, having an agent who knows the available financing types for that property, especially condominiums, is extremely important. When you interview agents, make sure they know this information or you may have a more difficult time marketing and ultimately selling your property. 

Here is the link to the section of the VA website that allows you as a homeowner to search for VA approved condo projects:

Approved VA Condos

On the left hand side, click on “Condo/PUD Reports”. You will then have six fields to complete:

1. Select report type of Summary or Detail (either is fine)
2. Select the type of records to receive (Condo)
3. Enter the Condo/PUD name – you are encouraged to use an asterisk (*) as this will pull all approved projects in the specified city, or for example type M* and it will pull all approved projects beginning with the letter M
4. Enter the Regional Office (leave this one alone)
5. Enter the City and State – unlike the FHA search site, this site does not locate by zip code
6. Retrieve only approved Condos – keep marked as yes

Regarding PUD’s – although VA does not require that a PUD be prior approved, the lender is responsible for ensuring both title and lien-related VA regulatory requirements are met for each VA loan such as:

• The estate must not be less than fee simple
• Title must not be subject to unreasonable restrictions of use and occupancy
• VA loan is secured by a first (1st) lien on the property
• Any mandatory homeowner association assessment is subordinate to the VA-guaranteed mortgage

Pretty standard stuff, and one you would expect your Realtor to know but you might be surprised.  We have the resources for you and know all the projects. If you have any questions about using this look-up tool or any VA or other loan related items, please feel free to call us at (877) 571-2289 or email us at  suejohson@windermere.com.

We also have an expert on our team from CW Mortgage, Kevin Kueneke who supplies us with this type of information and expertise.  You may also contact Kevin direct at 760-500-1919 or email him at Kevin@MyCWMtg.com.