FHA Condo Approval Specialist: VA Condo Approvals – When an “Approval” May Not Mean What it Says

VA Condo Approvals – When an “Approval” May Not Mean What it Says

VA Condo Approvals – When an “Approval” May Not Mean What it Says

Last week, I was on the phone with one of the VA Staff Appraisers regarding a condominium project that appears to be approved by the VA.  On the VA’s site, there are roughly 600 condominiums in Connecticut that are approved.  Once on the approved list, the condominium approval never expires.

A typical VA project approval looks like the one just below.  It has the Condo Name and ID (000292), Address, Status, Request Received Date and Review Completion Date.  VA loans are available within this condominium project.

 va condo approval

The condo about which I was inquiring, is the one in the picture below.  As you can see, it says that it is "Accepted Without Conditions" but there is no Request Received Date or Review Completion Date. The Staff Appraiser at the VA said that he would question the validity of this approval if he were reviewing a VA loan in this project.  He believes that the system should be purged of these potentially errant approvals.

 va condo approval

Prior to 2009, condos that were on the FHA Approved Condos list would be added to the VA’s approved condos list by simply requesting it and providing a copy of the FHA approval.  This is no longer the case and all condominiums not already on this list must be approved by the VA.  However, you can see which condos were added by this method when it looks like the one below.

 va condo approval

However, this one is also suspect because there is no Received Date or Completion Date.

I wanted to bring this to the attention of real estate agents and loan officers who have VA borrowers that are looking to purchase in VA-approved condo projects.  Just because the system may say “Accepted”, it may not necessarily be viewed as approved with the VA.

If you have a question, please call the jurisdictional Regional Loan Center and speak to a Staff Appraiser (option #2 in the phone menu).  We all know that the biggest enemy of a real estate or mortgage transaction is surprises. 

For the remainder of the year, ReadySetLoan Condo Team LLC is offering free processing for VA condo approvals for all condominium clients who retain us for an FHA condo approval.  If you have questions about VA or FHA condo approvals, please contact us for a free consultation.

The Condominium Project Approval Team at ReadySetLoan is dedicated to helping condominium projects across the nation to obtain their approvals with FHA and the VA or become recertified with FHA.  We have assisted nearly 200 condominiums and we can help your association.


ReadySetLoan is an active member of the Connecticut and New England chapters of the Community Associations Institute (CAI) and is a frequent contributor to Common Interest Magazine as an expert in FHA/VA condominium project approvals.


Please contact us with any questions regarding FHA or VA condominium project approvals.  You can email me at askeric@readysetloan.com or call me at 404-433-4565. I will be happy to answer any of your questions.


FHA/VA Condo Approval Specialist

404-433-4565 Cell Phone

860-644-3772 Fax Phone

ready set loan condo team


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 Check out our article in Common Interest magazine on page 19!

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Comment balloon 14 commentsReadySetLoan Condo Approval Team • June 22 2014 08:27AM


Eric, thanks for the link to the Regional Loan Center this may come in handy while working with a VA a buyer I have. 

Posted by Adrian Willanger, Profit from my two decades of experience (206 909-7536 AdrianWillanger-broker.com) over 5 years ago

Eric-Thanks for the info on the Regional Center contact. Do you only work with ConnecticutAssociations in helping them obtain their certification?

Posted by Wayne Johnson, San Antonio REALTOR, San Antonio Homes For Sale (Coldwell Banker D'Ann Harper REALTORS®) over 5 years ago

Understand the nightmare. Fortunately don't have that many Veterans buying condos. Most are buying homes. Occasionally.

Posted by Bill Reddington, Destin Florida Real Estate (Re/max Southern Realty) over 5 years ago

Hi Adrian-the VA staff is very friendly and responsive

Hi Wayne- we work with condo associations nationally to assist in FHA and VA project approvals

Hi Bill - well that's good news for both the Veterans and you. I can only remember one time in 10 years when I wrote a VA loan for a condo

Posted by ReadySetLoan Condo Approval Team, The FHA/VA Condo Project Approval Specialists (ReadySetLoan Condo Team LLC) over 5 years ago

Thanks for improving my CID finance knowledge as pertaining to VA approvals.

Posted by Pete Xavier, Outstanding Agent Referrals-Nationwide (Investments to Luxury) over 5 years ago

Eric good catch.  Many LO's would just see the name on the list and move on with out taking a closer look, so thank you for bring it to our attention.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 5 years ago

In our area there are so few accepted that it is a,most a given that FHA buyers need not look

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754 ) over 5 years ago

Wow - thanksk for the heads up.  If it is anything like FHA, there are additional things that must be satisified for a condo to be acceptable to the lender.. eg. investor ratio, reserves, insurance and much much more .. which is difficult to obtain.

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) over 5 years ago

You are absolutely right.  I have run into properties that are on the VA approved website, that were at one time approved, but no longer are... (they didn't refresh their approval)... and they haven't updated the online list.


Posted by Alan May, Helping you find your way home. (Jameson Sotheby's International Realty) over 5 years ago

Good morning Eric. A well deserved featured post. This information that you shared is so important and information that helps all of us do a better job for our clients.

Make it a great week!

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) over 5 years ago

You're welcome Pete

George - with as many on the list that I have seen like this, I wanted to make sure that LOs and agents knew about this potential for delays.

We have to work on that Ed

Joan - you are correct to a degree; lenders are meant to examine certain characteristics on the loan-level.  However, investor ratio is not something that the VA cares about!

Hopefully it doesn't happen too often, Alan

Joe - thank you. I'm happy that the information is valuable

Posted by ReadySetLoan Condo Approval Team, The FHA/VA Condo Project Approval Specialists (ReadySetLoan Condo Team LLC) over 5 years ago

Just another aspect of why you should be working with a very qualified loan officer! 

Posted by Marc McMaster, Putting my clients before myself (RE/MAX Centre Realty) over 5 years ago

Great post.  Maybe I missed it but did you ever find out whether or not the approvals which did not have request/review dates where genuinely approved?  Thanks for the info!

Posted by Rachel Khoury, Your Wingwoman for Colorado Mortgages (Tailwinds Mortgage) over 5 years ago

Marc - working with experienced and knowledgeable agents and LOs make the homebuying process so much easier.

Rachel - I did not get a straight answer because I did not have a loan to submit.  The Staff Appraiser at the VA said that he would not let it slide but that doesn't mean that another one wouldn't also.  The best bet is to call ahead if you have one like this.

Posted by ReadySetLoan Condo Approval Team, The FHA/VA Condo Project Approval Specialists (ReadySetLoan Condo Team LLC) over 5 years ago