Condo
Loans
If you are in the market to purchase or
refinance a condo, you may have already
noticed that guidelines for condominiums
can vary from that of other stick built
homes. While Fannie Mae and Freddie Mac
have their own set of criteria, individual
banks and lenders may even enact tighter
guidelines. The mortgage rates displayed
on BurlingtonMortgage.biz are not for condos
but rather for single family home loans.
Still, almost all of the companies listed
in the survey at the top of this page, or
throughout this site for that matter, can
and do offer mortgages for condos. You will
simply have to speak with several of the
companies in order to find their current
condo mortgage rates and to learn more about
their qualifying criteria.
Condo
Mortgage Financing
In some markets, condo loans had/have
a much higher rate of default when compared
with other types of residential properties.
As a result, some lenders view condo mortgages
as being more risky than other types of
lending. Thus, guidelines and condo mortgage
rates have been adjusted to compensate for
the perceived level of risk.
*If you are a lender or a broker that offers
condo loans and would like to be featured
on BurlingtonMortgage.biz, please contact
us at 910-547-6910 to find out about our
advertising rates and programs.
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