Скачать или смотреть How our clients bought this Condo with 5% Down

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Many think it's impossible to finance a Condo with 5% Down but it's basically our bread and butter. 👏🏽

What does it take to qualify? 🧐

Here is what we look out for to make sure a BUILDING can be financed with 5% Down:

1) RESERVES - get a copy of the current year budget and confirm the amount being saved for reserves is at LEAST 10% of the maintenance income 💰

2) LITIGATIONS - Is the condo currently involved in a construction defect litigation? If so, we need to move on 👋🏽

3) 40/50 YEAR RECERTIFICATION - More than likely if a Building is going through their recertification process, especially the 40 year, there will be major structural items that need repair & will disqualify you from being able to purchase with a lower down payment. 🏗️

4) INSURANCE - Obtain a copy of the current insurance policy & send it to your Lender. There are certain coverage & deductible amounts a building must have in order to be financeable with a lower down payment. 📋

Seems like a lot?
NO WORRIES! That's why we're here to help!

DM @Realtorjonny if you're looking to Buy

Sincerely,
Jonny & Maria
Your Real Estate Duo

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