VA Condo Loans – VA Loans to purchase condos and refinance condominiums
VanDyk Mortgage is a VA Direct Lender that offers VA Loans to purchase or refinance Condominiums. The tightened credit markets of the past few years have wrought havoc on Condominium financing as Government Sponsored Agencies Fannie Mae & Freddie Mac have added many restrictions on Condos, both in the way of reduced eligibility and also increased interest rates for Condo’s. FHA also recently changed it’s rules for Condominium eligibility as well, making it even harder to buy or sell Condo’s with Conventional or FHA financing.
This is where VA Loans come in. To qualify for a VanDyk Mortgage VA Condo Loan, the condo must be on the VA Approved Condo list, which encompasses many existing complexes. You can search for VA Approved Condos yourself or let us help. The hardest part is the Condo Association name may not appear in the VA Site, forcing us to research the homes Legal description to determine the VA Condo Eligibility. Simply call us so we can help research the Condo’s Eligibility for a VA Loan.
VanDyk Mortgage offers VA financing on Condos throughout all states we service with VA Loans up to $453,100 with no down payment required. We also offer VA Jumbo Loans for Condo’s – up to the County VA Loan Limits with no down, or you can exceed the VA County Loan Limit with an accompanying down payment. This includes Purchase, Refinance, and the popular VA IRRRL, or VA Streamline Refinance.
VanDyk does not require the seller to hold the property for 90 days like many other lenders (aka seller seasoning). If the seller of record on the day of the purchase agreement matches Title records, that probably fits within our rules. Other names for this include the Flip Rule, Owner Seasoning Requirement, or VA Flip Rule. Most of the big banks require a seller to be on Title for 90 days minimum, we only require 1 day.
We offer VA Loans for Condo’s in California & Washington state. Condo’s in cities like San Francisco, Oakland, Los Angeles, San Diego, San Jose, Seattle, Bellevue, Ventura, and Irvine can qualify for VA Condo Loans.
>>> Get started here on your VA Loan PreApproval or give us a call at 866-900-2342 (toll free direct)