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By Mangosuthu Buthelezi
Independent voices from the The Washington Times Communities
Topic - Charles Vance
When Heidi Krieger, who recently purchased a one-bedroom co-op in Cleveland Park, first started looking at co-ops and condos, her first concern was to find a home she loved. Her second priority was to make sure the monthly fees were affordable.
Mr. Vance said Federal Housing Administration loans are not available on co-ops.
While Ms. Isaacs and Ms. Krieger said interest rates on a co-op mortgage may be slightly higher than for a condo, Mr. Vance said interest rates are close to the same on both types of loans.