Do VA loans cover condominiums and are there any restrictions like with an fha loan?

Yes, you can finance a condo with a VA loan. However, just like FHA, the property must be approved by VA (not just the lender) and the process can take a quite a while. If you are considering a condo purchase using a VA loan I'd try to find one where the property is already approved.

Like Phil stated, the property must be an approved VA property.

Yes, Phil Is correct. As long as the property is approved by VA

Whenever there is an association, additional rules apply. When using a VA loan on a condo, the association must already be approved. The association is required to get the approval. There is nothing you can do on your own. It can be approved already by either VA or FHA. If the association is not already approved, it may take awhile to get approved. Also, if it is not approved, be sure to find out why... That may be a sign. www.VA-IRRRL-Loan-MN.com

VA does have specific condo requirements that are slightly different than FHA.. VA has a search tool on their website where you can look up the project to see if it's approved.. https://vip.vba.va.gov/portal/VBAH/VBAHome/condopudsearch Understand that when it comes to property values for certain property types, condo's represent a greater level of risk, and because of this, lenders will price their loans higher and/or have greater restrictions on financing them.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Like the others have said. You have to get the property approved first.

Property must be approved.