Tag Archive for: condo

Understanding Non-Warrantable Condos

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This comprehensive guide covers essential considerations, potential pitfalls, and alternate financing options for non-warrantable condos.Read More

How To Buy A Condo In California

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If you’re thinking about buying a condo in California, there are a few things you’ll need to know. This blog post will cover the basics of purchasing a condo in the Golden State, from financing options to understanding HOA fees.Read More

Condo vs. Townhome vs. PUD

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This is another reminder that condos are not distinguishable from PUDs (Planned Unit Development units) by appearance alone. Attached side-by-side two-story units that all touch the ground can be zoned “CONDO” or “PUD.” Complexes with units that “float” (that do not touch the ground) will almost always be zoned condo (PUDs must touch the ground).Read More

DANGER: Non-Warrantable Condos! Financing Options?

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WHAT IS A NON-WARRANTABLE CONDO? A non-warrantable condo is one that does not meet the requirements of most conventional (Fannie, Freddie, and jumbo) lenders, and is thus ineligible for the […]Read More

Top 5 Tips for Buying a Condo in Texas

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Condos are an excellent option for buyers looking to upgrade to a larger single-family residence without all the upkeep of a detached home. These are our top five tips for Texas buyers interested in buying a condo in Texas.Read More

FHA: “Condo Complexes No Longer Have to Be FHA Approved” – Spot Approvals Return!

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About ten years ago “FHA Spot Approvals” went the way of the dodo bird, in that they disappeared. This was devastating to a lot of FHA buyers b/c condos were […]Read More

New Condo Complexes/Phases Do NOT Have to Be Complete

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Many loan officers and real estate agents mistakenly believe that condo projects and/or phases within a project must be complete before units within them are eligible for mortgage financing. We, […]Read More

12 Things To Consider Before Buying A Condo

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Below are twelve things buyers and agents should consider if they plan to finance the purchase of a condo. We remind our clients of these items from time to time […]Read More

Important Condo Considerations

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Below are twelve things buyers and agents should consider if they plan to finance the purchase of a condo. I repeat these items from time to time b/c they are […]Read More

How Much Income Do California Borrowers Need To Purchase A House or Condo?

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California borrowers often have questions about what income they need to purchase a house or condo. Lenders use a debt-to-income (DTI) ratio to determine how much income a borrower needs […]Read More

Top 5 Tips for Buying a Condo in California

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Condos are an excellent option for buyers looking to upgrade to a larger single-family residence without all the upkeep of a detached home. These are our top five tips for buyers looking to buy a condo in California:Read More

Condos – Three Numbers To Know

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If you’re looking at a Condo, there are three numbers to know: 1) % of owners delinquent with HOA Dues: Less than 15% of owners must be less than 60 […]Read More

All Questions to Ask When Evaluating Condo Financing/Purchases

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We frequently discuss Owner Occupancy ratio requirements for condos, but there are many other important considerations that need to be addressed up front. The below are questions we ask all […]Read More

Condo in Litigation? Not a Deal Killer

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We closed a transaction last week on a condominium with a Homeowners Association (HOA) that was involved in litigation. The litigation had to do with some mold in a building […]Read More