Condo Lending Returns

_MG_7550Buyers interested in condos the last few years have had almost no outlet to turn to with financing. Almost all of the condo sales have required cash purchases, so it’s great to hear that we finally are seeing financing available again for these units. At least one lender in town, Sunstreet Mortgage, will finance units like those at the Vistoso Resort/Golf Casitas. Recently I spoke with one of our favorite loan officers who happens to work at Sunstreet, Steve Van De Beuken, who confirmed that for a primary residence these units may be financed with only a 5% down payment. Like with any lending circumstance a buyer’s creditworthiness still must be solid but the program is out there again. Not only is financing available on the Vistoso Casitas for primary residences but seasonal residents can also finance them with 10% down. An investor program also exists with a minimum down payment of 20%.

Overall this is great news and while condo units still won’t be right for every buyer, they definitely have their advantages for a segment of folks. Team Woodall currently has one of these Vistoso Golf Casitas available for sale (Click Here For More Info) with another one coming on the market on October 1st. We’d be happy to assist with any questions you may have on condo financing or for even better assistance contact Steve Van De Beuken at Sunstreet Mortgage at (520) 547-4149.

Stephen Woodall
REALTOR, GRI @ Long Realty Company
Stephen has made real estate his full-time career and passion since 2008, primarily specializing in the Foothills & the Northwest Tucson areas of Oro Valley and Marana. He is a multi-million dollar producer, representing both sellers & buyers. Stephen has tremendous experience in new home sales, listing & selling primary residences, listing & selling vacant land, listing & selling luxury homes, investment properties, rentals, and real estate development parcels.

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