Here is an important step to get ready to buy a Condominium Home
If you are planning to buy a condominium, there are factors to consider when planning your purchase.
Condo financing can be complex, with various issues to consider, such as the Association management not having adequate reserve funds, high owner association fee delinquency rates, Owner litigation issues, high non-owner occupancy rates, insufficient master insurance coverage, mixed-use developments, substantial monthly condo fees past due and special assessments for repairs and improvements.
Therefore, condominiums may be considered higher risk to finance due to other factors like homeowner association management, non-warrantable status, and aging infrastructure concerns; all which could impact down payment requirements and specific loan pricing adjustments.
To determine suitability for financing a specific Condominium Complex, a Condominium Questionnaire must be completed by the Association Management to determine eligibility for favorable financing terms.
I can help you navigate through the complexities of financing a condo home. Just give me a call and I will certainly be able to provide you with sound advice, so that you can make an informed decision to choose the right condo and evaluate the best financing options.
At Star Mortgage, we believe in making your home financing journey as smooth and transparent as possible. When you choose our completely FREE consultation, you'll enjoy personalized advice from our experts, clear information on mortgage options, and a risk-free experience.
Start your journey with confidence and clarity. Contact us today for your free consultation and discover how we can help you achieve your home financing goals!
Call (508) 941-5616 or TEXT Message to schedule a convenient time for you
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Jay Austin
Jay Austin
Licensed Mortgage Professional
MLO #20860 Massachusetts
Star Mortgage® Massachusetts Mortgage Broker #MB1206
Star Financial Services, Inc.
(508) 941-5616 Ext 201 - Call me or send a Text Message
Serving satisfied clients everyday throughout Massachusetts
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Star Mortgage®
Administrative Offices
691 Washington St
South Easton, MA 02375
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