Condo Lending what agents should know

Course overview

How many stories? Compares to an Apartment. Common areas and common amenities Read and understand the description. Introduction to HOA. More details regarding paperwork, Maintenance fees, CC&Rs and Bylaws discussed and explained Property taxes and insurance Condo insurance differentiated. Aspects of qualifying are introduced with Warranability a key component. Condominiums may be more restrictive than single family free-standing homes. Association budget, bylaw restrictions Pending legal issues, % of renters. Key issues with Fannie/Freddie that need to be documented. Project eligibility, Fannie/Freddie Review LTV's, HOA Control, 75% of units are conveyed. Closing the course with some important thoughts