Understanding Condo Financing: Spot Approval, HOA Strength, and HO6 Insurance
If you’re considering purchasing a condo, you may come across terms like “spot approval” or “HO6 insurance” and wonder what they actually mean. Condo financing is slightly different from single-family homes because lenders evaluate not only the buyer, but also the homeowners association (HOA). This guide breaks down how condo financing works, what spot approval […]
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