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I'm a former FL native, now living in PA. A friend of mine has been telling me you can get a decent condo for less than $20K down in these areas and I'm looking online and seeing ridiculously even lower prices i.e., $12K, etc..
Is this true? Any catches? Is the economy so bad that people are just taking the hit?
for 12 k you're probabuly looking at places like kings point, century village and a couple other 55+ neighborhoods. condo financing is still a little tough right now, but there are buildings where you can get a decent condo with 20 k down .
for 12 k you're probabuly looking at places like kings point, century village and a couple other 55+ neighborhoods. condo financing is still a little tough right now, but there are buildings where you can get a decent condo with 20 k down .
Thank you for this info. I did see a LOT were 55+ communities. There are other condos I've found as well not in those places and they are going for about 25-30K. With condos, do they require 20% down or is it more rigid? Also, are people buying condos because they are inexpensive right now and renting them out? Just curious if a HOA would allow this.
I heard 25% is the new number for down payments. I am not sure if Freddie and Fannie are still making it very difficult to finance for condos. Sea Coast bank does offer financing for condos if you want to give them a call.
I heard 25% is the new number for down payments. I am not sure if Freddie and Fannie are still making it very difficult to finance for condos. Sea Coast bank does offer financing for condos if you want to give them a call.
Especially if this is going to be a second property condos are going to be tough to finance. Townhomes are usually a little easier right now.
Anything under 50k is really tough to finance.
Especially if this is going to be a second property condos are going to be tough to finance. Townhomes are usually a little easier right now.
Anything under 50k is really tough to finance.
Especially if this is going to be a second property condos are going to be tough to finance. Townhomes are usually a little easier right now.
Anything under 50k is really tough to finance.
I never could figure out the difference between a condo and townhouse but the banks seem to know what it is
I never could figure out the difference between a condo and townhouse but the banks seem to know what it is
I know there are difference, but they are so subtle it does seem silly, eh? LOL Well, I think I'm gonna scope out the area since I'm originally from Brevard county, then figure out where to rent for a bit then maybe think about buying. It's so cheap to rent; just have to find the right area.
town homes you usually have some form of ownership of the land. in most cases you don't have anyone above or below you either.
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