The financing of a condominium is different from a typical home mortgage. A condo buyer needs to work with a lender who is experienced in the condo market.
The lender should know their market and which condo projects are financially healthy. They should have knowledge about what financing is available for a particular building, how many units are owner-occupied or rentals, what's included in the project, association budgets and insurance, and whether the property is eligible for financing.
A jumbo loan may be an option to purchase a luxury or higher‐end home. A jumbo loan exceeds the maximum loan amount allowed by most mortgage investors. If your situation provides you a low debt‐to‐income ratio, an excellent credit score, and a larger down payment, then a jumbo loan may be perfect for you!
Interest rate, Annual Percentage Rate (APR) and payment information shown are for illustration purposes only and are not a rate quote. The actual interest rate, fees and APR available to you will be based on your credit history and specific loan details. For a rate quote, please contact a Johnson Bank Mortgage Lender.
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