Yemeni Mason explains why condos work for first-time buyers on a tight budget. You can buy with just 3.5% down on an FHA loan or 3% with a conventional loan, and you build equity without maintaining a yard or roof.
Are you struggling to buy a house that fits your budget in terms of what you're pre-approved for? Or are you somebody who's single that doesn't necessarily need the space? Well, buying a condo can certainly help you start building equity without the hassle that comes with owning a home. Furthermore, a lot of people have the misconception that in order to buy a condo you have to put down a lot more money, and that is not necessarily true. You can actually buy a condo with an FHA loan with 3.5% down, and if you're a first-time home buyer with a conventional loan at 3% down. Now, the condo does have to pass certain requirements, such as a full condo questionnaire and some other information, in order to qualify. But we here at Secure the Funding know exactly what it takes to get you approved for a condo. So if that's something that may be of interest to you, please reach out today.
How to Qualify for your First Time Home Purchase #mortgagerates #homeownership
