Eligible Properties for VA Loans

Houses at Bolling Air Force Base, D.C. (Photo: U.S. Air Force)
Houses at Bolling Air Force Base, D.C. (Photo: U.S. Air Force)

As a veteran or active duty service member, you’re probably well aware of the many benefits available to you, including one of your most important, and widely used, benefits – the VA loan. 

You know that you can refinance your existing home up to 100% of its value, you can buy a new home with zero down, and PMI isn’t required. However, do you know what types of properties – outside of a standard single-family home – will allow you to qualify for your VA home loan benefits?

It’s important to keep in mind that just because the Department of Veterans Affairs allows for some properties to fall within the qualifications for a VA loan, may not mean your lender will approve it under their terms. Please remember to always check with your mortgage lender to ensure they can work with you to find the best fit for your financial and residential needs.

Modular/Manufactured Homes

A modular, or prefabricated, home is built in sections at a factory and reassembled on-site by a contractor. Modular homes differ from manufactured homes (mobile homes) in that manufactured homes are assembled entirely in a factory and shipped to the property as-is.  

Modular homes are more likely to appreciate than mobile homes, which makes them easier to finance. Quicken Loans provides funding for modular homes with the following guidelines:

Must be attached to a permanent foundation

Must have been built according to HUD guidelines or received certification from the state in which they were built


Co-op is short for Cooperative Housing Project. When you’re buying a co-op property, you aren’t actually buying the real estate, but rather a share in a not-for-profit corporation. These shares allow you to occupy a unit in the co-op and become a member of the co-op community. Co-ops aren’t covered by VA loans.


Condos differ from co-ops in that you’re actually purchasing real estate, and they’re eligible for VA financing. However, the entire complex must have received VA approval before you can be approved for an individual unit. You can check the VA’s current list of approved complexes or have your Home Loan Expert determine your approval status for you. 

New Construction

Getting a VA loan for a new home construction is tricky, but not impossible. Your builder, plan and building site must be approved by the VA, and three different inspections are required. In addition to being a VA-approved builder, they must also provide at least a one-year warranty on the home. 

If this proves to be too complicated for you or your builder, one common suggestion is to build the home using a conventional construction loan, then refinance with a VA loan once the home is complete. 

Property – Vacant Land

VA loans can only be used for existing homes and homes under construction. 

Take the Next Step

If you're ready to move forward, or just want more information, the first step is to get no-obligation rate quotes.

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