Tag Archive for: hoa

Markets Over Emotions; ADU’s Need To Be Permitted If Using Income; HOA Dues Whack Purchase Power!

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I woke up certain today that rates would be 1/4% HIGHER. I was very wrong. Oil prices are only a tad higher, and interest rates are holding, as investors clearly seem to think the ceasefire will hold. Read More

How To Buy A Condo In Illinois

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

Can’t Waive Contingencies For Condos – Or Give Fast Answers

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In December, I wrote these two blogs: Can’t Waive Contingencies For Condos and Have A Condo Listing? What Listing Agents Can Do To Ensure Faster Closes & More Marketability  I […]Read More

Have A Condo Listing? What Listing Agents Can Do To Ensure Faster Closes & More Marketability

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No matter how strong a borrower is, lenders will often recommend not waiving contingencies if the borrower is buying a condo. This is because lenders need to ensure that the condo complex is “warrantable” – or compliant with the criteria set forth by Fannie Mae, Freddie Mac, or similar entities to make the condo eligible for financing.Read More

We’re Seeing More Non-Warrantable Condos Than Ever Before

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After the 2008 Great Financial Crisis, we saw an enormous number of non-warrantable condos. The biggest issues then were HOA (Homeowners Association) dues delinquencies and under-funded HOAs in general, as […]Read More

WARNING: Condo Delays; Blame Canada! Or “Big HOA”

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Thanks to "Big HOA," lenders have to pay as much as $800 to get HOA documents and info – which they need for nearly every condo loan, but all that Big HOA does for those large fees though is send over a PDF with all the documents.Read More

HOA Dues Offset Single-Family Purchasing Power; But – How Much?

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The garbage disposal in our office broke a few years ago, and the millennials and zoomers in our office ran around in utter confusion for days… until a boomer showed […]Read More

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

6 Things I Learned From Boomers; Credit Inquiries; HOA Dues; In-Laws And Total Square Feet

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Borrowers can have an unlimited number of credit inquiries from mortgage lenders over a 45-day period, and the credit scoring models will treat it as a single inquiry. This is an extremely important reminder for our many borrowers who are very concerned about their credit scores.Read More

Condos Not Always “Cheaper” Than Single-Family Residences; Condo Questions To Ask

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I read recently that the median single-family home price in Marin County, California is almost $500,000 more than the median condo price. So, condos are way cheaper, right? Not always, […]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

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

Key Condo Issues Every Buyer Should Know Before Financing

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Condo loans often face hurdles like HOA delinquencies, concentration rules, and occupancy rates. Understanding these factors upfront helps buyers and Realtors avoid surprises and secure the right financing.Read More