Topic - Kevin Quaid

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  • Cover story: Lenders look differently at condos, houses

    As a prospective homebuyer meeting with a lender, don't be surprised if the lender asks whether you are considering buying a condominium. While condo financing is not always necessarily more difficult to obtain than a mortgage for a town home or a single-family home, there are some differences.

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  • "While being on the FHA approval list helps, it doesn't mean that lenders can automatically approve a loan," he said. "Condo developments evolve daily, so lenders will need to send a questionnaire to the condo management to make sure it still meets FHA requirements."

    Cover story: Lenders look differently at condos, houses →

  • "As a starting point, condo buyers and their lenders can check the list that [the Department of Housing and Urban Development] has of condos approved for FHA loans," said Kevin Quaid, branch manager with the Fitzgerald Financial Group, a division of Monarch Bank in Alexandria.

    Cover story: Lenders look differently at condos, houses →

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