Getting a condo loan approved seems to get harder and harder each day. Below are the loan approval conditions I got on a recent loan submission for a condo purchase:

1. Buyer to get 20% HO6 dwelling coverage.

2. Statement from the property management company about the cleaning services in the condo’s budget. What type of cleaning services are they?

3. Statement from the appraiser on whether having no parking in the project has an effect on the value. Read the rest of this entry »