… I mean “Condos”. In all the wrong places.
So, I did the mortgage preapproval thing through my bank. The good news is that I am approved for more than enough to cover what I am looking for.
The bad news is that it has to be an FHA loan, and not a conventional mortgage.
Damn my lousy credit score!
Anyway, this just means I appear a bit more like a deadbeat. And can only look for condos in Buildings that have FHA approval.
Unfortunately the one condo I have liked best so far is in a NON FHA approved building.
Another other wrinkle in the search is that the bank is a bit hinky about loaning money for condo purchases. Evidently the lions share of foreclosures involve condos.
So the bank also has to research the condo building/group for viability and sustainability. And then approve it before any loans can be made.
Add to this the fact that one of the realtors I’ve contacted really didn’t listen to what I am looking for and sent me listings for a lot of… well… shitholes.
I ended up doing all the condo research for her and giving her a list of what I liked.
This is really almost more work than it’s worth.