Planning on financing a condo in the Northern Virginia area? This is the second article in a blog series on this topic. You can read Part 1 here.

Financing a Condo – Other Important Things to Consider

- It’s important to factor your condo dues into your monthly payments estimate and debt-to-income ratio. When you get pre-approved, your mortgage lender will look at your monthly income and debt service, and will add the condo fees to your debt service to make sure your debt-to-income ratio works financing a condo.

Search Condos for Sale and Use Our Free Mortgage Calculator Tool to Analyze Your Monthly Payments When Financing a Condo

- You might qualify for a zero-down loan. A lot of people who buy $300,000 to $500,000 properties qualify for zero down loans, and there are a lot of condos in this price range in Northern Virginia. Some zero down loans even involve grant money from the state of Virginia, which doesn’t have to be paid back!

Email me at DarrenRobertsonHomes@gmail.com for a list of the top 10 condos you can buy for zero money down in the Northern Virginia area of your choice!

- If you’re planning on financing a condo and getting a VA or FHA loan, you’ll need to find out if the condo community is VA and FHA approved. For Conventional loans, this doesn’t matter.

Email me at DarrenRobertsonHomes@gmail.com to find out if any condo you’re interested in is FHA or VA approved!

Are you thinking of buying and financing a condo in Northern Virginia? Call me at 703-462-0700 so I can help you with your search. It’s important to work with a real estate agent who sells a lot of condos and can explain how condo purchase contracts differ from regular home purchase contracts.