Michigan VA Home Loans – Exciting Site Condo Changes – Mortgage 1 | Fenton, Michigan

Michigan VA Home Loans – Exciting Site Condo Changes

May 29, 2018

Written by: Jim Papatheodore

Great news!! Here in Michigan we have quite a few site condos. Michigan has offered single family detached housing as Site Condominiums as a way to provide housing through a faster and more efficient development process. A site condo does not share any common walls and the property owner owns the land that the home is situated on. The VA has always considered a site condo as a condo which requires regional loan center approval before Veteran buyer’s could purchase the home using their VA home loan benefit. Effective May 24th, 2018 the VA will recognize site condo’s as a normal single family detached residence and will no longer require VA approval to be eligible for a VA home loan. This is a variance for the State of Michigan only.

If you have any questions or would like to be pre-approved for a Michigan VA home loan please visit www.MichiganMortgageStore.com.

Mortgage 1 Fenton Team

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