Is VA condo approval the same as FHA condo approval?
No. They are separate lists with separate review criteria. A project on FHA's list is not automatically on VA's list, and a project on VA's list is not automatically FHA-approved. Always check both if dual eligibility matters.
What this actually means.
Some criteria overlap (reserves, owner-occupancy ratio, insurance), but the two agencies maintain independent approval databases. Florida buyers shopping condos with both VA and FHA eligibility in mind should pull both project lists. Project-level approval is generally a 3-6 month process to add a new project to either list.
Where this can move.
VA project approval status, owner-occupancy ratio, project insurance and reserves, and litigation can change condo eligibility.
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Educational only. VA guidelines, lender overlays, rates, fees, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with the VA, HUD, or any government agency.