The following guide can help expedite processing and approval for a Common Interest Community, Condominium and Planed Unit Development that is not currently approved for the VA loan guarantee.
Check For Existing VA Approval
Prior to submission, please ensure that the condo, pud or common interest community is not already approved.
Often subdivisions on the list may be named under a name other than the common name of the subdivision (such as builder map name, tract number, plat map, etc.).
If you would like to know if a condo is already approved, please call 888-573-4496 for assistance or use the form on this page.
If The Complex Is Not Already Approved:
VA approval requires a package of the HOA legal and financial documentation to be reviewed by VA Regional Counsel. In order to receive approval, all required documentation of the condo project or HOA community must be received prior to review.
For Rush Processing Of Condo Approval:
Expedited processing of condo approval is available through VA Home Loan Centers for a fee of $995.00. This fee may be subject to increase if additional investigations, research or paperwork is needed. To receive approval, you must submit the following paperwork:
- Assessors parcel number, or tax id number of a unit in the property
- Common Name of complex or subdivision
- Street Address of complex
Further documentation may be required.
If you are using VA Home Loan Centers for your loan processing, you will be refunded this $995 fee if your escrow closes with us. If you are using this service without going through VA Home Loan Centers for the actual loan, then you will have to pay the fee upon approval of the condo complex. If your condo complex of choice does not get approved, you may request a refund of your fee.
VA Home Loan Centers Will Compile The Following:
Legal documents required for approval of existing and new/under construction developments:
1. A cover letter requesting approval. The letter is to include (a) the name, address and telephone number of the requester submitting the package; (b) address of project (city, county, state and zip code); (c) total number of phases and units in the project (d) If the complex is new or existing, how many units sold.
2. Condominium Certification/Questionnaire addressing status of complex signed by property manager or board member of HOA. If unavailable, statement from HOA/property manager date developer turned over all interests to HOA.
3. State Agency Certification of a Condominium Certificate for all completed phases. In California, this is known as the Final Condominium Subdivision Public Report or FOO Report. The CA Department of Real Estate (DRE) issues the report. If the project is located in CA, this report must be received. NV, AZ and NM have no state certifications.
4. Condominium Plan and Plat maps with County Recorder’s Stamp showing recording date.
5. Declaration of Covenants, Conditions, and Restrictions for Condominium (CC&Rs) with County Recorder’s Office stamp showing recording date.
6. Articles of Incorporation of the Homeowners Association with state seal showing date filed.
7. If the association is unincorporated, in the State of California, it must file certain identifying information with the Secretary of State. The form for this is a Statement of Common Interest Development (Form SI-CID).) A copy of this form will be required for unincorporated HOAs.
8. By-laws of the Homeowners Association
9. Current Association budget/current financials showing reserve/operating account balances or proposed budgets for new developments
10. Statement signed by a member of the HOA Board of Directors specifying any existing or pending special assessments/litigation affecting the Association or unit.
11. Minutes of the last two Homeowners’ Association meetings held.
The following is a list of additional documentation required for new developments only
Note: conversion projects require additional processing.
12. Phased Development Schedule (expandable projects)
13. Grant/deed/leasehold agreement form used to convey title
14. Recorded Annexation/Amendment documents for subject phase (expandable projects)
15. Evidence recreational facilities are completed and common areas conveyed to HOA
16. Evidence common area title free of financial encumbrances
All documentation provided must be current (including financial budgets and statements).
The turnaround time for standard processing the documentation and obtaining approval from Regional Counsel is on average 30 days.
Fees for expedited condominium (or HOA community) approval, processing and review are not considered an allowable VA fee and are not refundable if the project is not approved. Although the opinion of counsel is considered reliable, final certification and approval or denial will come from the regional office.