Ask your Realtor if the condo is "warrantable." Non-warrantable condos often require a 20%+ down payment and a higher credit score.
Lenders review the condo association’s budget, insurance, and the number of renters vs. owners. If the building is in poor financial shape, you might be denied even with a 800 credit score . 💡 Pro-Tips for Condo Buyers credit score needed to buy a condo
700–720+ . Used for high-priced luxury condos that exceed standard lending limits. 📉 How Your Score Impacts Your Costs Ask your Realtor if the condo is "warrantable
Buying a condo is slightly more complex than buying a single-family home. Lenders look at two scores: Your personal creditworthiness. credit score needed to buy a condo