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Home Buying in 53532 : Real Estate Advice

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Tue Jul 22, 2014
Ann Ryan answered:
David,

Condos remain the hardest properties to finance in the current market. Generally, my recommendation for buyers is to avoid condos (and the properties that look like townhomes but are in fact condos) unless they can manage a 25% down payment to avoid most of the banks condo requirements.

Before proceeding, ask your Real Estate agent to show you a list of the condos that have sold in that building/association within the last 6 or 12 months, the type of financing they used, and what bank they used. My bet is that you will see mostly cash deals, and almost all the remaining ones will be conventional financing (higher down payment).
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