Are you a veteran looking to buy a condo or townhouse in New Jersey?
VA Condo Approval Standards On Oct. 26 2017 HUD announced they will be reducing the owner-occupied requirements for 50% to 35%.
- The number of units 60 days delinquent on their HOA dues was also reduced from 15% to 10%.
- Must have at least 35% owner occupied units
- No more than 10% of units can be 60 days late on HOA fees
- Three years of acceptable financial documents Condominium must have 20% of the condos budget in reserves for maintenance.