Financing for a condo is different than financing for a single family home or a zero lot line. For example, some lenders will only offer an adjustable rate mortgage if you’re purchasing a condominium - which could cost you more in the long run! Discover why RMN believes in offering fixed rate mortgage for condo purchases.
Fixed Rate Condominium Financing
It’s important to understand that if you talk to the right lender, who offers fixed rate financing for condominiums, you may be getting a better financing option. You can finance with a fixed rate mortgage for a condominium with a VA loan, a Rural Development loan, or a Conventional loan. The lender you’re talking to needs to understand how you can get those condo projects approved, and they also have to have the authority to submit them for approval.
Trust RMN for Your Condo Financing
Our office has that authority, so we can get you fixed rate financing for those loan programs. If you’ve been told by another lender that a condo project is not eligible for fixed rate financing, I encourage you to reach out to our office. Often times they are other ways that we can get a project approved.