Major Changes to Condo Underwriting Guidelines

In the last few weeks there has been major changes to the guidelines that show lenders how to approve a condo project when underwriting a loan.¬† More documentation and more scrutiny will be paid to any deferred maintenance or potential structural problems.¬† If you are looking to purchase or sell a condo it’s highly recommended that you speak with a lender as soon as possible to make sure the condo you have is approvable.

As always, if you have questions about mortgage guidelines, terms or rates please call/text me at 910-250-8888. I proudly serve the Wilmington, Leland, Hampstead, Jacksonville, Southport areas and am licensed in all of North & South Carolina and Virginia!
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