what to know about buying a condo

Buying a condo can be an excellent way to invest in real estate without bearing some of the major responsibilities of homeownership. However, it’s important to be aware of the difference between buying a condo and buying a house. Here are a few things every condo buyer needs to know: Read the paperwork

fha county lending limits  · Limits for FHA Loans in Los Angeles County, California range from $726,525 for 1 living-unit homes to $1,397,400 for 4 living-units. Conventional Loan Limits in Los Angeles County are $726,525 for 1 living-unit homes to $1,397,400 for 4 living-units.

How much money you need to buy a condo depends on the area and the. Bankrate: 6 Things You'd Better Know Before You Buy a Condo.

Before you commit to owning a home, consider factors like maintenance fees and proximity to neighbors.

Sometimes that means buying a co-op or condo for a child, but it’s not as simple as it might seem, particularly for parents.

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Buying a condo allows you to wade into homeownership without plunging into the responsibilities of a single-family home. Before you buy a condo, ask the right questions to avoid making a mistake.

home loans with no down payment and no closing cost fha mortgage insurance factor fha mortgage insurance increasing october 1, 2008 – Upfront mortgage insurance will increase from 1.5% to 1.75% for purchases and refinances (not FHA streamlined). Streamlined refinances will be 1.5% and FHA Secure will be 3.0% ( hopefully you refinance before you need fha secure ).No Closing costs home loan. The No Closing Costs 5/5 Adjustable Rate Mortgage provides flexibility and stability as a first-time homeowner or as a current homeowner. Your housing mortgage rate can only change once every 5 years with a maximum adjustment of 2% and the maximum cap is 5% over the life of the loan!

Buying a condo, which is a bit different than buying a house, can be intimidating.But if you’re armed with knowledge about the risks and rewards of purchasing one and what the market looks like right now, it doesn’t have to be scary.

Before you jump into buying a condo, there’s 10 questions you should know the answer to: 1. How much are the monthly condo fees and what does it go towards?

10 Things You Should Know About Buying a Condo 1. Condos Mean Shared Responsibility. 2. Condos Often Mean Cheaper Insurance. 3. Condos Can Be More Affordable. 4. Condo Buying Still Requires real estate agents. 5. condos are Subject to Association Rules. 6. Condos May Include Other Fees. 7..

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Buying a condo in Hawaii has a variety of aspects that you may not encounter on the mainland, from strict renting rules to financing options and more. To help you avoid pitfalls, here are some of the top things you should know about buying a condo in West Hawaii.