Cash or Loan?
What you need to know if you are thinking of buying a condo in Arizona:
Buying a condo comes with a few additional lending rules since the overhaul of the lending guidelines a few years ago. Make sure to ask us for more details about specific associations and which ones are in compliance.
To qualify as a condo complex with Conventional Loans (ask for complexes that are FHA approved as less than 20% nationwide are approved for FHA) here are some of the general guidelines from the government who backs the loans:
Every complex may have unique circumstances so it is important to review this with your lender as other guidelines may apply.