Finding VA approved condo’s for a Veteran using VA financing can be time consuming. Understanding how to properly use the VA Approved Condo search on the Veterans Administration website is important. But also important is understanding that now all attached, “condo like” homes are actually condo’s. In San Clemente, CA there several projects that look like condo’s, and more importantly are priced like condo’s. But they will not be on the VA Condo Approval site since they are actually not condos.In many cases they are “townhomes”.
The Difference Between a Condo and a Townhouse in California
Definitions for condo’s and townhomes vary from state to state. California does not actually have a legal term “townhouse”. However, it is a commonly used term to describe a style of home. Typically “townhomes” are built in a row and will share one or two walls with adjacent units. A townhouse will typically start on the ground floor. A condo owner owns only the interior walls of the condo. They do not own the land under the condo, especially since in many case there may be another condo unit below them. In other terms, a condo is a legal description that defines the common ownership of the land, buildings, and common areas. A townhouse is a physical description of the property. It’s important to note that in areas of California, especially in Orange County, it can get confusing. There are Detached condos and Attached Single Family Homes that may look just like a condo or townhome.
To know for sure if you’re looking at a condo or not, the most accurate method is to review the Legal Description of the property. Also, in Orange County, if the Assessors Parcel Number (APN) begins with a “9”, then it is a condo. If it does not start with a “9” then it is not a condo and for VA financing purposes there is no need to see if the property is “VA Approved”. Condo’s are the only type of property that need to be “VA Approved” for a VA loan.
218 Avenida Adobe, San Clemente, CA 92672
A great example of a currently for sale Attached Single Family home is 218 Avenida Adobe, San Clemente, CA. Priced at $439,999, this home is is within the Presidential Heights community of San Clemente. It is a nice and spacious 2 bedroom and 1.5 bathroom home. There is a large open living and dining area with tile in the kitchen and dining room. There is a huge patio that is only steps from the community pool. The bedrooms are both on the second level, with a balcony off the guest bedroom. Both bedrooms have “peek a boo” ocean views. The home has approximately 1,060 square feet and the Home Owners Dues are $250 per month.
Presidential Heights is a community that sits above the San Clemente Municipal Golf Course and is known as a community perfect for first time buyers because of the affordable prices and location near golf and beaches. This community is also perfect for Orange County Veterans using the a VA home loan who want to live near Camp Pendleton.
The listing agent for this property is Stevie Koller with Realty One Group. The MLS Id is OC14052018. To learn more about the property you can call for pre-recorded information at (800) 349-3898 x 122.
Website with VA Approved Condo’s in San Clemente
To see a current list of VA approved condo’s for sale in San Clemente, go www.OrangeCountyVACondos.com. The site keeps the list updated by using an IDX feed directly from the MLS.
VA Home Loan Program for Orange County Veterans
The most important step in the home buying process is the initial consultation with a loan officer. Veterans looking to use the VA loan program to buy a home in Orange County should discuss their options with an experienced VA loan office. The loan officer should be able to prepare custom VA loan scenarios detailing on the purchase price, loan amount, payment, closing costs, and amount needed to close. Knowing these numbers before making an offer will put the Veteran in a better position to achieve a VA No No, where the Veteran buys the home with no down payment and no money out of pocket for closing costs.
Authored by Tim Storm, a California Mortgage Loan Officer MLO 223456 – Please contact my office at the Home Point Financial. Direct line at 949-640-3102. www.OrangeCountyVALoans.com