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

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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: mike.riley@supremelending.com