Condo mortgage loans may provide financing options for eligible condominium purchases and refinances. Borrower qualification, property eligibility, condominium project review, documentation, lender, and underwriting requirements apply.
A condo mortgage loan is financing used to purchase or refinance an eligible condominium unit. In addition to borrower underwriting, lenders may review the condominium project, including applicable HOA, insurance, occupancy, financial, and property requirements. Available financing options vary by borrower, property, lender, and program.
Condominium loans involve two levels of risk review:
Because of this, condo loans require specialized underwriting and lender experience.
May be eligible for conventional financing subject to applicable agency and lender guidelines
Financing options may be available through eligible portfolio, jumbo, or other lender programs, subject to project and borrower requirements.
Condo mortgage programs may be available for:
Eligibility depends on loan type, occupancy, and project status.
Credit requirements vary by borrower, lender, and program.
Down-payment, credit, occupancy, property, project, and documentation requirements vary by borrower, condo project, lender, and loan program.
Conventional financing may be available for eligible condominium projects and borrowers, subject to applicable agency and lender guidelines.
Available only for FHA-approved condo projects or approved single units.
Used for high-value condo units exceeding conforming limits.
Designed for non-warrantable condos or complex projects.
Condo financing may involve review of both borrower documentation and condominium project requirements. Loans by Kelly helps homebuyers and real estate investors explore condo mortgage options and coordinate the lender’s condo project review, including applicable HOA, insurance, and property documentation requirements.
Loans by Kelly helps homebuyers and real estate investors explore condo mortgage options and understand applicable borrower, property, HOA, insurance, project review, documentation, and lender requirements.
3 Simple Steps to Start Your Mortgage Review
We begin with a conversation to understand your home financing goals and general mortgage needs.
We review mortgage options based on your goals, property type, occupancy, documentation profile, and applicable lender guidelines.
Submit a secure application to begin the mortgage review process. Any preapproval requires applicable documentation and underwriting review.
