Shop Early for a Condo Loan

Buying a condo is different than buying a house. There are different requirements in regards to the types of loans that are available for the purchase of a condo. Some condo complexes will not allow potential buyers to use certain types of loans such as FHA or VA to finance the unit. This restricts some buyers to using conventional home loans even if that is not what they want to use for their financing. In order to avoid any complications, it is wise to ask your lender for a list of condo complexes that are approved for loans. Some complexes take cash only so this list will eliminate those as well. Also discuss which loan is best for you and which will get you the property you desire. Read the full article here: