Buying and Owning a Condominium can be very different from purchasing other types of properties.  When you purchase a condominium you are in a sense joining a community of other owners who share in your financial interest and well being.  Purchasing in a well run, well maintained complex can be a pleasure.  Living in a complex that is poorly run can be a nightmare.

Some of the advantages of living in a well run complex are:

• Low initial purchase cost.
• No worry about maintaining the exterior of the building, the landscaping, the roof, etc.
• Access to amenities such as a clubhouse, pool, exercise facility for shared cost.
• A property manager to handle the day-to-day operations of the property.

Financing a condominium can also be different than other properties.  The location, size of the complex, percentage of owner occupants, the financial stability of the HOA all are determining factors that lenders review before approving condo financing.  Providing the lender with information about the property early in the process is important when financing a condominium.

If you are considering FHA or VA financing the condo must be on the approved list of properties that meet the strict requirements of these programs.  You can use one of the links below to find and approved complex or use our search engine link to find your new Condominium Home.  Please contact us with any questions.