When considering condo mortgages there are several areas of the building itself that need to be examined. When you buy a unit in a condo building, you are entering into a partnership with the other unit owners and the association that is elected to maintain the building and all common areas.
Your mortgage broker will want information on the association and how they maintain the financial end of their business, as well as the age and condition of the building itself. Simple mortgages in New York are very different from those involving condo purchases and refinancing. The finances of the association and potential those of the members may come into play when deciding whether or not to approve your loan.
Before attempting to go it alone with condo mortgages, contact us at Centex Capital to help you in finding the right building to invest your hard earned money in. Mortgages in New York can be a challenge for many home buyers, so having a mortgage broker on your side will help you to find the best terms and the best lenders available to you without having to shop around to individual lenders yourself.
We at Centex Capital can help with your due diligence and find out all you will need to know and have for the lender to approve your loan.
All options available will be discussed with the borrower, as well as all the requirements for each lender, before a decision is made and the loan is processed. Using a broker like Centex Capital is the best way to find out all you need to know about getting and maintaining your home loan when purchasing a condo.
Contact us for more details about Condo Mortgages in New York.Email us or call us at (800)842-2910.