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Welcome to
Carteret Mortgage!
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FHA Condominium acceptanceFinancing a condominium using FHA financing can be difficult at times. FHA and other condominium financing programs will require the condo will be less than four floors high and they must have more than 50% of the units occupied by their owners. The loan must be less than the FHA limit. If this describes your situation, you will find more information under the FHA Loans section. However, if the condominium does not these standard criteria, we
have several programs which will help. Programs are available for high rise
condos and for condominiums whose owner occupancy ratios are below 50%. These
are commonly
called "non-warrantable" condos. Rates are generally 1/4 percent above
the current market but we can almost always get your loan done.
I have included a page on documentation
requirements. I also have a Free report "Buying
your First Home" available by email. There is also a well written
article on condominiums as an investment
available.
Read more about FHA Condominium
Closing Costs Be sure to visit the Mortgage
Library. I have included a page on how to calculate your qualification ratios. I have included a page on documentation
requirements. Learn more about
improving your credit scores
As a Certified Mortgage
Planning Specialist, I offer an analysis of
your situation today can make suggestions on how small changes in how
your consumer and mortgage debt is structured today can have a life changing effect in the years
to come. Read more
about this free, no obligation service.
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