what to know about buying a condo

what is a reverse mortgage? A reverse mortgage is a loan, and as with any type of loan there are benefits and there can be downsides.. Here, we will address some of the pros and cons associated with reverse mortgages for those qualifying individuals who are age 62 or older.. The reverse mortgage: a non-recourse loan designed for senior borrowers

10 Things You Need to Know About Buying a Condo It’s the perfect compromise between renting and owning. HOA’s cover many of the everyday maintenance tasks, such as landscaping services and building maintenance.

paying back a reverse mortgage house loan affordability calculator how to get pre approved for a fha loan Ask the Expert: How Can I Assist My Buyers in a Seller’s Market? – If your client isn’t going to be a cash buyer, make sure they get a pre-approval for a mortgage before looking for homes in. which is why the Federal Housing administration (fha) requires a special.Buying a House: How Much Can You Afford? – Lenders don’t want you to take out a loan that you can’t afford, so they look at it like this: Your monthly housing expense and your monthly debt combined should not exceed 36 percent of your gross.As with any other loan, the interest on a reverse loan is only part of how much it will cost you. There are also closing costs that you must pay; since the Federal Housing Authority’s (fha) home equity conversion mortgage (HECM) product dominates the market, we’ll focus our attention here. The relevant reverse mortgage fees for a HECM loan are:

Owning a condo has many of the same benefits of owning a single-family home. But before you buy, learn as much as possible about the.

Step by step process of buying a condo for the first time.. out some of our other top trending infographics and let us know what you think!

Have you been considering buying a condo but weren’t sure about the details specific to purchasing in Maine? Condominiums associations have varying rules, regulations, and fee structures that differ from buying a single-family home, but your broker can help you navigate the buying process with ease.

Arlington VA real estate agent and Realtor Matt Leighton talks about 5 mistakes people are making when buying a condo. Subscribe for more real estate videos.

fha mortgage underwriting guidelines Underwriters ensure that mortgage applicants meet the lender’s minimum qualifying guidelines. Their role becomes more involved when applicants have complex or nontraditional income and credit issues.

Straddling the decision whether to buy a traditional home or a condo in Portland? Here's what you need to know.

It is now obvious that the property boom witnessed a decade or so. disclose to the buyer the loan amount they have.

An Introduction to Buying a Condominium In a condominium (commonly known as a condo) some parts – your residence – are owned. Searching for the Right Condo. Looking for a condo involves the same process as shopping. Beyond the Condo Sales Contract. It’s not just the sales contract that you.

Learn how to pick a great condo rental property.. all types of people who are considering purchasing a condo as investment property, such as:.

Buying a condo typically involves all of these things plus a whole lot more. There are questions that every buyer should ask before buying a condominium. One of the biggest things customers fail to understand about buying a condo is that they will usually be buying into a community where some rules and regulations must be followed.

7 Questions to Ask before Buying a Beach Condo. September 5, 2015 by jayherring. It’s time. Whether you’re entering retirement, need a great family vacation spot or want to make some cash from rental income, you’re ready to buy a beach condo.. Maybe you want to know the building’s pet.

2nd mortgage loan calculator Current Ten Year Mortgage Rates Available Locally. The following table shows current 10-year mortgage rates available in Redmond. You can use the menus to select other loan durations, alter the loan amount, or change your location.new house payment calculator current mortgage interest rates 30 year fixed fha Mortgage Calculator | Zillow – Use our free mortgage calculator to quickly estimate what your new home will cost. Includes taxes, insurance, PMI and the latest mortgage rates.