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FHA Loans 

When choosing to buy in a condominium or complex where there is management, it is essential to verify if it is approved by Fannie Mae. This will help you get the best rates and conditions for your loan. Therefore, it is crucial to have this information so that they can approve your credit.

Benefits of Fannie Mae Approved Condos

If a condo meets Fannie Mae guidelines, you could get:

- A down payment as low as 3.5% of the purchase price
- The most favorable interest rates the lender can offer
- Lower origination fees.

To avoid an extra monthly mortgage insurance premium and also receive the best rates, you'll want to make a down payment of at least 20%.

Another way to get a condo loan without Fannie Mae approval is to simply make a 20-25% down payment to go through a simplified condo approval process with your lender. In many condominiums they also request a minimum credit report.

Are you ready to start ?

I invite you to start your journey to see if you apply for this credit or what type of credit you could apply for. Once you make your decision to buy, remember that this is a process that could take several months, even years, so start planning your strategy as soon as possible, much better!!

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