Condo Financing Changes: What Chicago and Evanston Buyers Should Know

When buyers think about qualifying for a mortgage, they usually focus on their own finances: income, credit, down payment, debt, and interest rates. With a condominium, however, the building itself can also affect financing. A financially qualified buyer may still encounter lending issues if the condominium association does not meet a lender's requirements. Reserves, insurance, deferred maintenance, special assessments, litigation, and other association matters can all affect whether conventional financing is available for a particular unit. Read full article here: https://www.willtveit.com/condo-financing-changes-chicago-evanston