Financing Your Condo, Co-Op, or Townhouse

You've been dreaming of a place to call home, and acquiring a condo, co-op, or townhouse seems like an ideal solution. You might think that buying one of these properties is less complicated than buying a house, but the reality is that finding financing can be much more challenging than you can imagine. These loans come with their own set of terms, and are often so complex that even the most knowledgeable loan officers don't understand them. If you're a first-time buyer, there are a host of issues that can blindside you, making paying for your dream home seem daunting. And if your potential purchase doesn't meet your lender's stringent guidelines, then you'll pay a higher interest rate, perhaps put more money down ... or not get financing at all.

As a veteran mortgage banker and author of Mortgages 101, David Reed has helped thousands of buyers through this complicated process. Financing Your Condo, Co-op, or Townhouse offers you crucial advice, including information on developer financing, specialty loans, refinance loans, ways to streamline the approval process, appraisals, and closing costs. This easy-to-understand guidebook explains:

the key differences between condos, co-ops, and townhouses

how to find the right type of property for you

the rules governing loans for condos, co-ops, and townhouses

how to evaluate which loan type is best for you and lock in the lowest rate

why the percentage of owner-occupied units is important

what to look for when buying from a developer

how to benefit from government programs for condos and townhouses

and much more

Filled with sample monthly payment schedules and an invaluable glossary of terms, this book will helpyou find the home of your dreams, at a price you can afford.