VA eligible home buyers in Orange County, CA who are wanting to purchase a Condo, need to check to make sure the Condo is approved for VA financing before making an offer. It is actually a fairly easy process.
The Veteran Administration has a link for checking on Orange County, CA approved condo projects (or condo’s located anywhere in the US.)
Once at the site click on Condo/PUD Reports. Once on the search screen there are a few ways to look up approved condo’s. If you have the name of a particular condo, type it in. You may need to try a few different variations. If the project is approved, it will appear once the “submit” button is clicked.
Check on all VA Approved Projects at once for Orange County, CA
It can be frustrating for Orange County, CA VA home buyers to first find a condo and then find out it is not approved for VA financing. The percentage of VA approved condo’s in Orange County, as compared to the total number of condo’s in Orange County, is very small. The better way for an Orange County VA home buyer is to decide what cities they are interested in. By going to the VA website, you will be able to narrow down your search by pulling a list of all of the approved condo’s within a particular city.
Example of VA Approved Condo Projects in Lake Forest, CA
By entering the city of Lake Forest onto the search site, the following list quickly comes up. With this list a Realtor will be able to quickly look up properties for sale within these specific condo complexes that are eligible for 100% financing with a VA loan.
- CAREFREE EL TORO HOA
- CEDAR GLENN
- LE PARC
- PHEASANT CREEK
- VISTA DEL FLORES
- WHISPERING HILL
It is important to get PreApproved for a VA loan before beginning the home search, but once PreApproved, if you plan to look at condo’s make sure you are looking at approved condo’s first.
Authored by Tim Storm, an Orange County, CA Loan Officer MLO 223456– Please contact my office at Emery Financial Group for more information about an Orange County, CA home loan. 877-786-4243 x 7.
Call our office today and see how we can help you and your family. Ask for your Free First Time Home Buyer Report.
877.786.4243 x 7 | tstorm (at) ochomebuyerloans.com
[…] ****Updated September 13, 2009. Effective October 1, 2009, FHA will require a full project approval prior to funding an FHA loan on a condo project. The list which HUD has maintained is going to be “erased”. The good news here is that VA has their own list. VA will be just about the only way for a home buyer to purchase a condo in Orange County, CA with anything less than 20% down. Orange County, CA VA buyers first need to check the VA condo approval list. […]