Is it possible to get condo financing on a condo in Las Vegas for Las Vegas Real Estate Blog
Q: “I hear it’s impossible to get financing on a condo. Is this true?”
A: It is challenging to get condo financing in our market, but not impossible. Here are the three questions you want to ask the seller or his Homeowner’s Association. Any one of these will make the loan challenging:
1) Is there litigation in the development? If yes, lending is difficult.
2) What % of homeowners are delinquent on the HOA dues? If more than 15%, lending is difficult.
3) How many investors own units in the complex? If more than 50%, lending can be difficult.
GOOD QUESTION I WAS ASKED LAST WEEK....
Q: “What’s the minimum credit score on an FHA loan ?
A: 620 is the minimum.
You can Contact me if you need help with getting a home loan, HARP refi or any other real estate questions
If I dont know the answer, I will send you to someone that does!
Allure Realty Group LLC
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