Condo Financing - Underwriting Fundamentals 101
Condo Financing
I want to talk to you about financing condos.
It seems like it would be an easy thing to finance, right?
A condo.
But the thing is, the lenders look at a couple of different things.
So some of the lenders will not do studios, right.
They want a 1-bedroom.
They won't do the studio.
So you need to know that based on your needs and what the property you are planning to buy is so that we can find a lender that is suited to your needs.
On top of that, some of them have a minimum square footage.
So you need to know these things.
So when you are working with the mortgage agent and they're doing your pre-approval, give them as much information as possible to ensure you are getting the correct lender the first time.
Talk to a Mortgage Professional
If you are looking to secure condo financing in the near future, it is time to take the first step towards getting the best available mortgage.
Simply book your free strategy call at the link below and we can help you get started today.