FINANCING YOUR CONDO

Condo Financing Available at Same Low Rates for Single-Family Homes

Buying a condo is like a buying a single-family home that sits inside a building. You own the apartment plus a percentage of the building's common areas.

Condo buildings have monthly "common charges" to cover building-wide services (management, door staff, plumbing, roofing, common walls) but these charges are usually much smaller than co-op maintenance charges.

Condo buildings have associations but they cannot veto sales or rentals-making condos very attractive to investors.

Condos are usually more expensive than co-ops-there are fewer of them and there's a high demand. Lending banks are lenient about.

Condo buildings-if you borrow 75% or less of the price of your condo, a lender won't review the building's finances, and all banks accept completed condo buildings that are 90% occupied. Since a condo is "real property", your loan is a mortgage secured by the apartment itself.

Mortgages for condos carry about the same low rates as for single-family homes. Foxx Capital Funding, Inc., as your partner, will find you the best rate for your specific needs.

Please contact us for more information about this loan or prequalify through our Web Application