Loan
Condo Loans
For first-time homebuyers, young professionals in urban areas, and even small families, a condo loan can help you experience a perfect slice of homeownership.
What is a condo?
A condominium, often shortened to just “condo” is a privately owned unit within a community of other units. They’re similar to apartments, except instead of renting, you own the property. Typically, condo owners get to experience reduced maintenance costs and the amenities that come with community living. Condos are a great option for first-time homebuyers who want to ease into the responsibilities of homeownership or for anyone looking to downsize from a larger home.
What is a condo loan?
Condo loans are designed to help home buyers finance the purchase of condominiums, which can be used as primary residences, vacation homes or investment properties. Thanks to condo financing offered by many of our most popular loan products, condo buyers may be eligible across a range of financial standings, locations, down payments and special qualifying factors
Condo Loans
For first-time homebuyers, young professionals in urban areas, and even small families, a condo loan can help you experience a perfect slice of homeownership.
What is a condo loan?
Condo loans are designed to help home buyers finance the purchase of condominiums, which can be used as primary residences, vacation homes or investment properties. Thanks to condo financing offered by many of our most popular loan products, condo buyers may be eligible across a range of financial standings, locations, down payments and special qualifying factors
What is a condo?
A condominium, often shortened to just “condo” is a privately owned unit within a community of other units. They’re similar to apartments, except instead of renting, you own the property. Typically, condo owners get to experience reduced maintenance costs and the amenities that come with community living. Condos are a great option for first-time homebuyers who want to ease into the responsibilities of homeownership or for anyone looking to downsize from a larger home.
Is a condo loan right for you?
Condo loans are a form of specialty financing that you can only use to purchase a condo. Lenders will consider various factors as they evaluate whether to extend condo loan financing. These factors can include the property’s age, structural integrity, amenities, grounds, and even the current finances of the building, as homeowners associations are tasked with maintaining annual budgets and reserves. That said, borrowers can apply for condo loans through the same programs as any other type of home.
Get Condo Financing
There are a lot of factors that go into determining condo loan rates and eligibility. As local lending experts, the team at Hixon is here to help you understand the criteria and find the financing option that will help finance your condo.
