Tucson Condo Financing
April 21, 2008
Post Tags: AIG-United-Guaranty-PMI , Fannie-Mae-Condo-Financing-Procedures , Tucson-Condo-Financing , tucson-condo-unit
If you own a Tucson condo and you are thinking about selling it, it is about to get much harder.
If you are thinking about buying a Tucson Condo unit. The financing is about to become very restrictive.
Kenneth Harney’s article “Securing a loan on a condo unit might now become far tougher” is a must read.
While not directed at the Tucson Condo Market specifically, he tells of new restrictions going into place by AIG United Guaranty a major private mortgage insurer and Frannie Mae new procedures that some lenders and mortgage brokers say could tighten up the availability of loans to condo purchasers.
If you are interested in purchasing or already own a Tucson Condo Unit this article is a must read for you.
For buyers paying cash it won’t be an issue. For sellers of Tucson Condo Units it is a different story. And if you are thinking about buying you should be aware of what might be an issue when you go to sell.
