Blog Category: condominium financing

March 1st, 2012 condo 2618421 1920
March 1st, 2012

10 Things Lenders Look For When You Buy A Condo

Are you looking at the right things when buying a condo? Most people look at location, view, amenities, square footage, and level of finish inside the condo unit. But why get excited over a condo and put in an offer if the building is not able to be financed by a mortgage lender? Below is a list of some of the most important things that a lender will be looking for when analyzing a condo to approve a loan for a mortgage borrower. Read More

Categories: Condo, Underwriting Rules, , , , ,

December 5th, 2021 small condominium
December 5th, 2021

2-4 Unit Condos Are Easier To Get A Mortgage Loan For

Condo financing can be tricky, but with small 2 to 4 unit condos it has gotten easier. In some urban markets a multifamily home is converted to condominiums. For example, a duplex is turned into two condominium units. Or a triplex is turned into three condominium units. Or a fourplex is turned into four condominium units.

There is required condominium project review that needs to be done on most condominiums. But that is waived on condos that don’t consist of more than four units. Read More

Categories: Condo, Loan Process, mortgage, Underwriting Rules, , ,