va condo approvals: VA Condominum Complex Approvals: Reserve Study Requirements - 09/03/14 01:11 PM
The Veterans Administration asks to see a list of documents before approving a condominium complex for VA loans.  One of those documents is a "reserve study".  In California, all condominium complexes are required to have a reserve study performed every three years (with annual board reviews) unless:
1- there are no common areas
2- commercial developments are exempt
3- total replacement costs are less than 50% of the annual gross budget.
This often, but not always, exempts smaller associations (less than ten units).
A reserve study analyzes the association's physical assets and financial reserves then makes recommendations to fund capital projects while maintaining a safe "savings … (5 comments)

va condo approvals: How To Get a VA Approval for Your Condominium Complex - 05/27/10 09:02 PM
California veterans have extraordinary opportunities to purchase a home using their VA home loan benefits.  Veterans can purchase a home or condominium, with no down payment, up to certain loan limits.  The hitch is that the condominium complex must "pass muster" with the VA.  If you're considering a condominium that isn't VA-approved, this article is for you.
ALSO READ: Understanding The VA Home Loan Approval Process
The key component to the VA condominium complex approval is the Attorney’s Opinion Letter.  Essentially, the VA relies on the expertise of an independent attorney to evaluate the condominium documents and offer an opinion as … (4 comments)