Condo Loans

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Financing a condominium can differ from financing a detached single-family home because the lender may need to evaluate both the borrower and the condominium project itself.

• In addition to the normal mortgage qualification process, certain loan programs may consider characteristics of the condominium association and project.
• Depending on the financing program, this can include insurance coverage, owner occupancy, association finances, litigation, property condition and other project characteristics.

• Eligible condominiums may potentially be financed through conventional, FHA, VA and other mortgage programs, depending on the borrower, property and project qualifications.

• If you're considering a condo, getting the property information to your mortgage professional early can help identify potential financing issues before you're too far into the transaction.

• We'll help you explore available mortgage options and understand the additional considerations that can come with condominium financing.