In order to obtain financing, the condo must be approved by the lender. Fannie Mae, Freddie Mac, FHA, and VA have condo approval lists. If the condo appears on the list, you can go ahead and make an offer. Contact us to see if your condo is on the list.

If the condo does not appear on the list, you may still be able to get it approved. The HOA would have to complete a questionnaire, provide the budget and insurance, and potentially other information and documentation to get approved.

If the condo is still not approved after a review of these documents, there are some lenders who will lend on “non-warrantable” condos, which do not conform to the standards of conventional lending.

So, if you are looking to purchase a condo, give us a call up front and we can help.