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is it easier to get approved for a condo than a single family home in California?

by ideguy306 from Rancho Cordova, California. Jul 8th 2019 Reply

Dave Skow (daveskow)
#1 ranked lender in Washington - 281 contributions

they should be similar ..getting approved for a condo loan is slightly more involved as the complex need to be reviewed and approved ( ccrs / budget / bylaws etc ..)

Jul 9th 2019
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,986 contributions

Realistically, just the opposite. When buying a condo, not only does the lender have to qualify YOU, but we also have to review and approve the Association. We are looking at the associations finances, budget, any lawsuits, total number of units that may be rentals, their insurance, and a lot more. While it doesn't happen a lot, your purchase can get killed for financing because of the association.

Jul 13th 2019
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