HOW TO GET CONDO APPROVAL

Understanding condo approval process is the topic of our today’s online class.

When a real estate agent lists a new condominium, the first question to be asked is whether the condo is approved by Fannie Mae or Freddie Mac. This approval status determines if the condominium is warrantable. As a result, it affects which lenders can provide financing for the unit.

Some lenders maintain a list of approved condominium projects, which can be crucial in certain situations, such as insurance coverage shortages.

For a detailed explanation of the condo approval process and its benefits for borrowers, watch the video presentation by Aussy Manuhu from Rocket that was recently recorded in our office.

Need guidance? For personalized assistance, call me at (415) 225-7920.

Stay tuned for our next online class scheduled for February 26.

Best wishes,

Manny Kagan,
President,
Pacific Bay Financial Corporation
Your professional mortgage broker since 1983

NMLS #205637
DRE #00874630