How Condo Financing Works

Mortgage Mike Helps

Mortgage Mike Helps | How Condo Financing Works Link to YouTube Video Episode: https://youtu.be/iaEb5rgkrGg

Condo deals don’t have to be scary—if you know what to expect, they’re often smoother than you think!

In this episode, Brendan and Mike Riley break down everything you need to know about condo financing—from association approvals and Fannie/Freddie guidelines to avoiding deal-breaking delays. Whether you're a realtor working with condo buyers or a buyer yourself, this video pulls back the curtain on the often misunderstood world of condo mortgage approvals.

Learn why some condos are a no-go for FHA and VA loans, how conventional loans offer more flexibility, and the critical role the condo association plays in your deal’s success.

Stop losing condo deals over paperwork and miscommunication. Know the process, avoid delays, and close confidently.

For more expert mortgage tips, visit mortgagemikehelps.com Subscribe for the latest videos from Mortgage Mike Helps on Youtube @rileyteammortgageloans

00:00 – Intro: Why condos don’t scare us 00:12 – What makes condo financing different 00:27 – The importance of association vetting & questionnaires 00:36 – FHA & VA condo lists: strict yes or no 01:08 – How conventional loan condo approvals work 01:40 – Red flags: lawsuits, owner concentration, low reserves 02:30 – The importance of insurance and cash reserves 03:00 – Occupancy rules: when they do and don’t matter 03:14 – Most condos do get approved—here's why 03:33 – Why cooperation from the condo association is essential 04:04 – Real-world delay example: part-time associations 04:30 – Pro tip: Get contact info from the listing agent 04:48 – Why realtors shouldn’t fear condos—we’ll do the heavy lifting

Don’t let a mystery derail your deal—equip yourself with the knowledge to navigate condo financing like a pro. 📧 Email Us: [email protected]