what is a condo loan?
Buying a condominium (condo) is a unique situation, because while the owner of the condo has full ownership of the interior of their unit (just like they would any other home), a condo association owns the common areas. It’s important to work with a mortgage lender that will not only provide top-notch financing, but also has the expertise to take you through the process step-by-step.
- No-down-payment option available, with loan amounts up to $750,000*
- Flexible condo review process
- Fixed-rate and adjustable-rate mortgage (ARM) options available
- Financing available for purchases and refinances
- Non-warrantable condo options available
what are the benefits of owning a condo?
More and more people are deciding that owning a condo, rather than a single-family home, is a better fit for their specific needs and lifestyle. Owning a condo comes with many perks, like:
- Less maintenance – In many cases, lawn care and other types of outdoor maintenance are covered in your condo fees
Smaller size – Condos can be ideal living situations for singles, empty nesters, and small families who don’t need or want to maintain a large home