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Is it hard to get approved for an income property loan for a condo?

by joelw945 from Amite, Louisiana. 3 days ago Reply

Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,137 contributions

Technically, yes because the Condo Associations financial health is a factor. This is not the case with Single Family Homes or Townhomes. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ At NEXA, we've got you covered. We are licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ 480-889-9000.

3 days ago
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,213 contributions

Depends on what you mean by hard. Qualification guidelines between owner occupied homes and investment properties are different. Investment guidelines are more strict. Then whenever you buy a townhome or condo, not only do we have to approve you, and the collateral, we also need to review the financial health of the association. I lend in WI MN IA ND SD. Find me at - NMLS 274132

2 days ago
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