Many service members and veterans are looking to take advantage of their VA loan benefit but aren’t quite looking for the heavy maintenance of home ownership. A condo at Alteza may have amenities and benefits that better fit your fun-loving lifestyle. The VA offers the same guaranty on condominium purchases as they do for traditional home loans. Veterans are offered a less vigorous application process and lenient credit requirements helping more veterans own property with no money down and lower monthly payments with a VA loan.
The challenge with condos and the VA loan program is finding one that’s agency approved. Condominium developments must be approved by the VA before any lots or units qualify for the program, which allows borrowers to purchase with no money down and no private mortgage insurance. Great news…Alteza Residences above the Grand Hyatt in San Antonio meets these stringent requirements:
- At least 50 percent of the building is occupied with residents
- No more than 15 percent of owners can be behind in HOA fees
- 75 percent of the units in a new construction must be sold prior to getting VA approval
You can use this link below to confirm that Alteza is officially approved.
With the Spurs making a playoff run, the new convention center opened, Hemisfair coming to life and the Tobin constantly welcoming top performers from around the world — maybe it’s time you explored a new home base in Downtown San Antonio.