Buying an Austin Condominium?
Many people mistakenly believe that getting a loan for a condo can be a difficult task. In recent years, more lenders have offered these loans, making more borrowers eligible to receive condo loans. The standards are still stringent; however, getting a condominium loan can be done if you work with knowledgeable Austin lender Joel Richardson.
How to Qualify for a Condo Loan
Due to a condo’s legal structure, the underwriting process is a tad different from that of a single-family residence. Joel Richardson and his team will evaluate your credit score and look closely at the property you will be buying. We will also consider your homeowner’s association dues. The condominium association will also need to meet the qualifications for a loan. They want to ensure the property is in good condition and meets lending qualifications.
Application Process for an Austin Condo Loan
The application process is simple! Once you apply online, you will work closely with Joel to determine how much you can afford based on your income, liabilities, and budget. He aims to issue your preapproval* letter the same day you apply.
Contact Austin’s Condo Loan Expert
If you’re in the market for a condo loan in Austin, Georgetown, Round Rock, or another city, contact experienced mortgage loan officer Joel Richardson. Call Joel today at 512-203-8244 or fill out our online contact form.
*All loans are subject to credit approval. A qualification is not an approval of credit and does not signify that underwriting requirements have been met. Conditions and restrictions may apply.