FAQ > Condos > What should I look for in a condo?
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If you're going VA or FHA financing, your condominium must be approved by them. If it is not approved, approval can be a multi-month process for both the VA and the FHA. I have personally done an approval for a condominium to go VA.
If you are seeking conventional or jumbo financing, we can approve your condominium. The things we look at are:
- Condo fee delinquency rates
- Percentage of renters versus occupants
- Adequate reserves in the financials
- Adequate insurance coverage
- If new, pre-sale percentage
Last updated on May 6, 2010 by Alex Jaffe