Financing a condominium can also be different than other properties. If you are purchasing a condominium with cash, you will find that the sale will go much easier and quicker. But before you plunk down your money you will need to investigate the communities health, operation and whether it meets your needs. I will work with your title/escrow agent to ensure that you have as much knowledge about the community as possible before you take title to your new home.
If you plan on financing the condominium or townhouse you should be aware of the rules that many lenders have regarding shared ownership 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 your lender with information about the property early in the buying process is important when financing a condominium.
Conventional financing is the most common and easiest to obtain for condominium homes. 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.
I have sold many condominiums and town homes in the Phoenix metro area and I have the expertise to help you find the best properties and the best financing. Please contact me with any questions.
The button below will take you to a FREE Advanced Search of the Arizona Regional MLS.
You can specify the Dwelling Type. Searching for Townhouse or Apartment Style/Flat will yield the greatest number of condominium choices.