If you are going to pay cash for a condo, you can buy whatever you want.
If you plan on getting a loan, it may be impossible to get one.
Many condo associations are insolvent. Some have too many rental units. There are other reasons why they cannot be financed per FNMA guidelines.
It doesn’t matter if you are putting 5% down or 80% down.
Not all condos are FHA approved.
One bad thing about condo loans is that it can cost $100-$200 to get the questions answered for the FNMA guidelines, and once the underwriter sees the answers the loan is declined, and that is before paying for an appraisal..
There is a difference between a qualified buyer and a qualified property.
