Good morning, Tom Heath with The Heath Team at Nova Home Loans. This is our weekly update on mortgage and real estate matters. And today is July 20th.
Our topic is property type: with inventory being so low, a lot of buyers are looking at manufactured housing and condominiums as potential options for their home. And while they’re great home options, they do present additional challenges in the financing world. So really encourage you to talk with your lender in advance before spending too much time on one of those particular types of properties.
The down payment assistance, the type of loan, a variety of factors come into play that will impact the borrower’s ability to purchase a manufactured home or a condominium. So before getting someone’s hopes up, let’s make sure that everything is in line.
If you have specific questions on either one of those properties don’t hesitate to give us a call or shoot us an email and head over to TheHeathTeam.com. for more information. Hope you have a fantastic week. Thank you.