Why Buying A Condo Just Got Harder
By CNBC
Community Score: 50% | 3.2K views | 1w
0 community ratings: null thumbs up, null thumbs down
Buying a condo may be about to become significantly more difficult, even for buyers with good financial standing. Beginning August 3rd, Fannie Mae and Freddie Mac are making big changes to how condominium mortgages are reviewed. Streamlined review process that applied to many transactions will now be retired. Instead, lenders will now have to conduct a more comprehensive review of a the building before the mortgage can go to Fannie Mae or Freddie Mac. Reporter: Sarah Agostino Produced by: Juhohn Lee Edited by: Meline Rosales Animation by: Jason Reginato, Emily Park Senior Director of Video: Jessica Leibowitz Additional Footage: Getty Images » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to get ahea
Tags: condo, condominium, home buying, home, fannie mae, freddie mac, homeownership, real estate, mortgage, lender
More from CNBC
- How The U.S. Became So Dependent On SpaceX — Score: 50%
- Millions Have Signed Up For Trump Accounts. But There Are Still A Lot Of Unanswered Questions — Score: 50%
- Supreme Court Says Trump’s Tariffs Are Illegal. Here’s What Happens Next — Score: 50%
- Why New Balance sales are soaring while Nike falls — Score: 50%
- How tariffs are pushing America’s furniture industry to the brink — Score: 50%
- United Airlines Overhauls MileagePlus Program — Here's What To Know — Score: 50%