VA Circular 26-20-36

Veterans Benefits Administration sent this bulletin at 09/23/2020 12:07 PM EDT

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Greetings,

The purpose of this communication is to announce that Circular 26-20-36 has been published.

Circular 26-20-36: Changes to Processing Site Condominiums Located in the State of Michigan

Purpose: The purpose of this circular is to provide information on processing condominiums for VA loan purposes in the State of Michigan. A Site Condominium is defined as a single family totally detached dwelling (no shared garages or any other attached buildings) encumbered by a declaration of condominium covenants or condominium form of ownership. This is a regional variance for the State of Michigan only. Lenders will process Site Condominium loans in a manner similar to a single-family detached home. All other geographical areas are unaffected by this change.

This Circular has been posted to the following URL: https://www.benefits.va.gov/HOMELOANS/resources_circulars.asp

Sincerely,

Loan Guaranty Service

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