what you need to buy a condo

equity loan vs equity line of credit Home Equity Loan vs Home Equity Line of Credit (HELOC. – A home equity line of credit, or HELOC, gives borrowers a line of credit in which to draw funds from as needed. Think of a HELOC like using a credit card, where your lender determines a maximum loan amount and you can take out as much money as you need until you reach the limit.

9 Important Questions to Ask When Buying a Condo – Learn more about the important questions to ask your real estate agent and management team when buying a condominium.. Questions to Ask Before Buying a Condo. So, You also need to look closely at the Repair Fund. Every condo association must put a certain portion of dues aside for major.

Five traps to avoid when buying a condo – The Globe and Mail – If you are not in a position where you can obtain a mortgage when the project registers, stay away from buying new construction. The market is being flooded with condo assignments and many are.

If the condo is not on the list, the borrower will need to seek conventional financing. principal residence: I recently had a buyer disqualified because he worked in San Jose and was buying a condo.

Why Do You Need Condo Insurance? Most condo associations have a master policy that helps manage the property. Your condo association might take care of any damage outside your property.

What to Know Before Buying a Retirement Condo – When Marsh Williams and his wife, Carol, of Columbus, Ohio, wanted to buy a low-maintenance home in 2013, they knew a condominium would let them travel without fretting about forgoing necessary.

How to buy a co-op or condo apartment in New York City: A. – This guide to buying a co-op or condo apartment in New York City will help you navigate one of the most complicated and expensive real estate markets in the world.

In the United States, condos became popular as a more reasonable way to buy a little piece of paradise in places like Florida and Hawaii. If you want to relax at the beach, but cringe at the thought of buying a pricey house down in the sunshine state, condos offer a somewhat less expensive alternative.

10 Things To Know Before Buying A Condo – Consumerist – Before you jump into buying a condo, there’s 10 questions you should know the answer to: 1. How much are the monthly condo fees and what does it go towards? 2.

Condo Buyer’s Guide – fanniemae.com – First, make sure you’ve covered the standard home-buying basics. When you’re ready to purchase a condo, your lender can help you with the process and help you select the mortgage financing option that is best for you. If you have credit or other issues that need to be addressed before you can buy, ask the lender to refer you to a HUD-

How to Buy a Condominium | Sapling.com – Buying a condo is no different than buying a single-family home–you need to live there at least a couple of years to recoup closing costs, assuming the property will appreciate. Step Give some thought to what you want.

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