It all depends on the Condo Association you are looking at. Some Condo Associations are only approved for conventional mortgages while other are approved for FHA loans. Although I have come across certain Condo Associations where mortgage companies will not lend to buyers in the community at all. Your best bet would be to make sure your Realtor contacts the Management Company to make sure the Association will qualify for a mortgages and what type it is approved for. If I can be of any assistance, please feel free to contact me.
I would ask would you qualify for a conventional mortgage? If the answer is YES then the condo world is your oyster! Otherwise if you only qualify for FHA you should work with an agent that can help you to determine your options.
Feel free to call on me I'd be happy to help!
John Davis Jr., REALTORÂ®
Century 21 Cedarcrest
SMART Fax : 973-944-5038