May 23rd, 2023 – Joe Massey

Condos and Townhomes can be very confusing for buyers, sellers and real estate agents.

We get a lot of questions about condo financing and often hear people who think that you cannot purchase a condo unless you pay cash for the property. This could not be further from the truth and this class will focus on clearing up the rumors and misconceptions of condo financing.

We’ll show you the specific requirements for Conventional, FHA and VA financing on condo properties. We’ll also teach you about the distinction between a condo and a townhouse, this is an important variable that many agents are not familiar with.

Join us for a great class to show you new opportunities and new property types that you and your clients can take advantage of.

00:00 Introduction
01:55 What is a condo or townhome?
03:02 What is the difference between the two?
04:16 How to tell the difference
12:17 Why is the property type important?
13:09 Financing for Townhomes
14:10 Financing for Condos
16:46 Conventional Loans for Condos
23:43 What makes a condo non-warrantable?
28:27 FHA Financing for Condos
31:19 VA Financing for Condos
32:23 My Condo is Eligible – Now what?
33:44 My Condo is NOT Eligible – HELP!
36:11 Why use Team Massey for your mortgage?