3.5 Tips for a simple condo loan process

14 06 2011

 

A condo usually means simplicity—less maintenance and worries.  But many buyers encounter unique challenges while getting a mortgage for their condo.  Here are some tips for buying your condo the simple way:

  1. Get pre-approved by a quality lender first, and have them do their homework on the condo(s) you are considering.
  1. Check to see if the condo is on the HUD or Fannie Mae approved condo list.  This could allow you to buy your new condo with a lower or no down payment.
  2. Look at the terms of the HOA rider before buying to check out the fees, maintenance, and coverage of the HOA.  Also read the bylaws to know if any will affect you.

3.5  Get to know your neighbors; you may share more than a wall.

 

I’d be honored to help you with the financing on your condo.  Please reach out to me to start the process.    Thank you!

 

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