New rules could make it easier to get mortgages for condos

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Your buyer's agent should be able to get a general idea from the listing agent.. The originating lender must do an evaluation to determine if the condo. That's when lenders found out the hard way that many condo projects were. climbing, mortgage lenders have loosened condo guidelines a bit as well.

Mortgage investor fannie mae has just made sweeping rule changes that should make it easier for you to purchase a first home or do what is called a cash-out refinancing to pay off your student debt..

October was an interesting month for condos in Toronto and the Canadian real estate market in general. With a year-over-year average price per sqft growth of 9.7% in the GTA, and the federal government implementing new mortgage ‘stress-testing’ measures, many people feel that the dreams of first-time buyers are being crushed.

Homeowners Association Lending Rules. If you’re looking to rent out your condo, make sure this is something the association allows. Finally, there’s the possibility that litigation against the association could affect your ability to get a loan. Typically, lawsuits that involve financial disputes are less concerning.

The Federal Housing Administration is getting ready to implement new rules that could, in some cases, make it harder to get a mortgage to buy a. directly affect people who want to buy condos with.

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Condos are often the most affordable option for first-time homebuyers, but federal rules have made it hard to get mortgages on them. That could change with new rules released last week by the Federal.

Discussion about. Im trying to get a mortgage on new construction condos. every bank is requiring 70% being sold. how on earth is anyone going to buy these days. Wells Fargo and Chase is asking for 70%.. Chase is asking for 70% sold also.. HSBC is asking for 90% sold..

Q. I want to buy a condo in a new development, but I know that often you sign a contract months (or even years) before the building is finished and the deal closes. In this kind of situation, how do I get a mortgage? Is it any different from buying an apartment that’s already built? A. Getting your.

Dodd-Frank reform could make it easier to get a mortgage. Rachel Witkowski.. which rolls back certain Dodd-Frank banking rules, on May 24.. How we make money. Bankrate.com is an independent.