New lending rules will affect condo buyers, HOAs

10/16/2012 | Chicago Tribune

Fannie Mae this week will change the lending rules for home buyers looking for a condo or a property that falls under a homeowners association. The mortgage financier's director of media and external relations says condo buyers will have to fill out a questionnaire about the homeowners association's financials and reserves when putting less than 20% down; previously such questionnaires were required when putting less than 10% down. The new rules also will require the lender to review HOAs' budgets.

View Full Article in:

Chicago Tribune

Published in Brief:

SmartBrief Job Listings for Government & Nonprofit

Job Title Company Location
Online Production Manager & Web Developer
GLAAD
New York, NY
QA Manager
LKD Aerospace
Snoqualmie, WA
Multimedia Manager
Aerospace Insudstries Association
Arlington, VA
Associate Director of Training
Out & Equal Workplace Advocates
San Francisco, CA
Press Secretary
Every Voice
Washiongton, DC