Brand new condo qualification standards was found in Chapter 16 of one’s VA’s lender brochure, Va Brochure 26-eight
For each and every financial accounts for ensuring that a specific condominium qualifies, and each financing have to meet specific term and lien conditions. Particularly, regarding title requirements, the fresh new property really should not be less than fee simple (38 C.F.Roentgen. (a)), each financing need to be safeguarded by an initial lien towards the property (subject to certain exceptions) superior to even one lien of your own condominium connection. (38 C.F.R. ). A created…
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