If you’re a veteran, active-duty service member, or eligible surviving spouse and you’ve set your sights on condo living—congratulations! That beachside unit with zero yard work and a pool you don’t have to clean is within reach. But can you use your VA loan to make it happen? The short answer: yes. The slightly longer answer: yes, but with a few important caveats.
Let’s walk through how to buy a condo with a VA loan—and what to expect along the way.
Why Condos Appeal to VA Buyers
Condos are popular with many buyers, especially:
- First-time homebuyers who want affordability without the maintenance.
- Retirees seeking a low-upkeep lifestyle.
- Single service members or couples who prefer urban locations or amenities like gyms, pools, and security.
And yes, you can absolutely use a VA loan for a condo—as long as the condo is VA-approved.
Step One: Check the VA Approval List
Not every condo is eligible. The Department of Veterans Affairs maintains a list of VA-approved condo communities. These are developments that meet the VA’s requirements around financial health, ownership structure, and rules.
To check if a condo is approved:
- Visit the VA’s Condo Search Tool and enter the condo name or location.
- If it’s approved, you’re good to move forward.
- If it’s not—don’t panic. Your lender might be able to help get it approved, but it can take time (and patience).
Pro Tip: Work with a real estate agent and lender familiar with VA loans—they’ll know how to navigate the approval process and steer you toward eligible options.
What Makes a Condo VA-Approved?
The VA looks at several factors, including:
- Owner occupancy rate. Most units must be owner-occupied (not rented out).
- HOA rules. There can’t be restrictions on who can buy or how units are financed.
- Financial health of the HOA. The association needs to be solvent and well-managed.
- No ongoing litigation. Lawsuits involving the HOA or structural issues can delay or disqualify approval.
Basically, the VA wants to make sure you’re buying into a stable, well-run community.
The Buying Process: Condo Edition
Here’s what the process generally looks like:
- Get pre-approved for a VA loan.
- Find a condo that’s VA-approved. If not approved, discuss your options with your lender.
- Make an offer. Just like any other property.
- VA appraisal. This ensures the value and condition meet VA standards. (Yes, even with condos.)
- Close on your new home. Break out the champagne—responsibly.
What If the Condo Isn’t VA-Approved Yet?
It’s possible to request VA approval for a non-approved condo, but it involves paperwork, time, and some cooperation from the HOA. Your lender will need to submit the necessary documents to the VA, and it can take 30–90 days or more for approval.
In competitive markets, this delay might cause you to miss out—so it’s best to target already-approved properties when possible.
Pros and Cons of Using a VA Loan for a Condo
Pros:
- No down payment required (in most cases)
- Competitive interest rates
- No private mortgage insurance (PMI)
- Low closing costs
Cons:
- Limited to VA-approved condos
- Longer processing time if approval is needed
- HOA dues are required—and can be steep in some developments
Still, for many buyers, the benefits far outweigh the hassles.
Real Talk: Work with the Right Team
Buying a condo with a VA loan isn’t rocket science, but it’s not quite plug-and-play either. You need a real estate agent who knows VA-friendly properties, and a lender who’s navigated condo approvals before.
If you’re working with a loan officer or agent sharing this article with you, good news—they already understand how to get it done.
FAQs
Q: Can I use a VA loan for a condo as a second home or investment property?
A: No. VA loans are only for primary residences.
Q: Can I buy a condo that hasn’t been built yet?
A: Possibly, but the project must still be VA-approved and meet specific completion requirements.
Q: Will I still need an appraisal for a condo with a VA loan?
A: Yes. The VA requires an appraisal for all financed properties, including condos.
Q: What if I already live in the condo and now want to refinance with a VA loan?
A: You can, as long as the condo is VA-approved at the time of refinancing.
