Condominiums are back in our blog posts because lenders are finally relaxing their policies on Condominium financing and enabling brokers to provide financing now for New Condominium Projects.
So, what changed?
In the past, many lender wouldn't do New Condo financing at all. Others allowed it as long as the Phase was being completed with the subject property. Finally one of our lenders has relaxed this policy and is now allowing all New Condo projects to be workable! Ask us how we can provide lower rates and fees on your new home purchase!