Shari Sanderson at Award Realty 702-287-4290

News > VA Loans for Condos - What Works and What Doesn't

One of the benefits of having served our country is the opportunity to participate in the Department of Veterans Affairs mortgage loan program. VA loans are available to honorably discharged veterans, active duty military who've served 90 days or more, and personnel who've served 6 total years in the reserves or the National Guard.

There are several components of a VA loan that make it very attractive as a way to finance your next home:

  • No Down Payment - Most lenders require a 10% down payment these days. FHA loans require a 3.5% down payment. VA loans offer 100% financing.
  • No PMI - Conventional loans require borrowers to buy private mortgage insurance until they reach 20% equity. VA loans waive PMI.
  • Relaxed Credit Requirements - Many lenders require FICO scores above 750. VA lenders ask for a 620 FICO score. VA borrowers can also their benefits even if they’ve had a bankruptcy or foreclosure.
  • High Limits - In most States, the VA loan limit is $417,000.
  • Refinancing - Eligible veterans can use their benefit to refinance existing, non-VA mortgage loans.
  • No Pre-payment Penalty - Conventional loans charge a fee if the loan is paid off early. VA borrowers who work to get debt free incur no such fee.

Since the VA doesn’t make loans, but guarantees loans made to veterans by private lenders, they require certain conditions be met. Some conditions apply to the borrower and some apply to the property.

First, proper certification is key. Veterans can contact the VA directly to acquire their Certificate of Eligibility. Or, they can fill out VA form 26-1880 and provide it, along with proof of military service, to a VA approved lending specialist who can request their certificate on their behalf, which often takes less time. VA borrowers also need to furnish 2 years of tax returns, 30 days worth of pay stubs and either a current military ID or a copy of their DD Form 214 (certificate of release or discharge from active duty).

Then, you'll need to pick the right condo property.  VA loans are available for the purchase of a primary residence that is "Move-In Ready." The VA’s definition of "Move-In Ready" is something a licensed VA home inspector will understand. This formality ensures veterans are buying a well built residence that will last.

In the case of a condominium, the entire development must be VA approved in order for any unit to be VA eligible. For new construction, both the builder and the building site must be approved by the VA, and the builder must provide a one-year home warranty. VA inspections are also required during and after construction.

If you need to use a VA loan to buy your townhome or condo, you'll want to contact us before you do too much looking on our website, because much of what's available is NOT available for VA lending. But for now, here are some condo communities in Las Vegas that are available for VA financing:


Vistana is a gated community is in Spring Valley, west of Las Vegas, blocks from the desert’s edge. Units offer fireplaces, private balconies, breakfast bars and designated parking. Amenities include a community pool, spa, gym, tennis courts, an walking trails.

Fremont street homes are ultra-modern, 3-story condominiums are located in a gated community in Las Vegas’ revitalized downtown. Units offer attached garages, vaulted ceilings, master suites and private backyards.

Regency Towers is a mid-century high-rise is on the grounds of the Las Vegas Country Club and offers luxury condominiums with views of the valley and the Strip. The community features 24-hour security, tennis courts, a community pool, spa, sauna, and an exercise room.

Marie Antoinette is one block east of the Strip, this high-rise community offers modern condominiums with private patios and floor-to-ceiling windows. Residents enjoy a community pool, tennis courts, exercise facilities, secure parking and a community clubhouse.

We have several other great ideas for you! The VA expert on our team, Ralph Rodriguez,  served  8 years in the United States Marine Corps and then 12 years in the United States Army.  Contact us for some expert assistance.


Though not guaranteed, information and statistics in this article have been acquired from sources believed to be reliable.

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Information Deemed Reliable But Not Guaranteed. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.

Last Updated: 2024-04-18