Financing Your Condo
Up to 95% - Condo Financing Available at Same Low Rates for Single-Family Homes
Buying a condo is like a buying a single-family home that sits inside a building. You own the apartment plus a percentage of the building's common areas. Condo buildings have monthly "common charges" to cover building-wide services (management, door staff, plumbing, roofing, common walls).

Condo buildings have associations but they cannot veto sales or rentals-making condos very attractive to investors. Lending programs are lenient about condo buildings-if you borrow 75% or less of the price of your condo, a lender won't review the building's finances, and all lenders accept completed condo buildings that are 90% occupied. Since a condo is "real property", your loan is a mortgage secured by the apartment itself.