VA Announces Changes to Processing Site Condos in Michigan. The Department of Veterans Affairs has announced new guidance requiring lenders to process site condominium loans in Michigan in a manner similar to a single-family detached home. The VA made clear that the change covers only Michigan. All other geographical areas are excluded. A “site condominium” is a single-family dwelling that is totally detached from any other structure, such as shared garages or any other attached buildings, and encumbered by a declaration of condominium covenants or condo form of ownership. Historically, many development projects in Michigan have offered single-family detached housing as site condominiums as a way to provide housing through a faster and more efficient development process. As condo developments, site developments are subject to VA’s condominium approval and processing ...