The reason why you are being told it can't be done is because most banks won't touch it because for a condo with 10% down it is very hard to get mortgage insurance (which is required with any loan where the is less than a 20% down payment).
There are also points (mandatory as per Fannie Mae) you would have to pay as well for putting down so little on a condo.
I hope this helps. Feel free to contact me if I can be of assistance.
In FH, it's the Pinnacle, The FH Windsor, Novo64, Park Manor and a few others. If transportation proximity is needed, Kew Gdns may not be the best solution and Rego will also have few options. Inventory will be limited based on the size and amenities you may want and I might think you know that Condos out-price similar sized Coops by (at least) $100K+
If you would like to discuss availability, prices, etc. I'm glad to offer a free, no obligation consultation in my office or your home if it's more convenient for you. I can also offer an excellent referral for a Condo loan as we are a full service brokerage. Please feel free to call me anytime. Regards!
Joseph C. Hastings
Prudential Douglas Elliman Real Estate
If you are turned down my mortgage brokers who represent lenders they work within guidelines of bank requirements.
You can search for another type of dwelling works with your specifications.
National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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