Many Sunriver Condo owners have heard that financing a condo in Sunriver has become difficult if not impossible. This is only partially true, there are guidelines on condo financing that can lead to issues. Most of these issues the seller has absolutely no control over.
Today, Home Loan Ninjas explain some of these guidelines. Knowing what condominium projects are still eligible for financing could save a buyer a lot of time and emotion. Because eligibility will change with ownership status it is best to call Home Loan Ninja and see if the project you have an interest in is eligible.
When purchasing a condo with a loan in Sunriver your lender, REALTOR® and you the buyer need to be aware that there is a difference between a second home ownership and a vacation rental ownership. The percentage of owner occupied units in a complex is one of the issues that make a project financeable or not. However, a second home is not the same as a rental.
Making sure your REALTOR® and your lender have the most up to the minute information is extremely important in todays real estate environment.
Additional Ask The Mortgage Professional Articles
Looking for a mortgage professional?
I would encourage you to contact;
Jason or James – your Home Loan Ninjas at 503.799.4112 or you can visit their website and see more info about mortgages and what you should expect.
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