Much to the shagrin of many local lenders, WHEDA's appetite for condos has weaned considerably. In the rapidly changing loan environment, WHEDA appeared to be a haven for 1st time condo buyers with low down payments, allowing for as little as 5% down. Given the rising surplus of condos , however, we are finding more and more that buyers will require a 10% down payment. Absolutely critical that any of your pre-approved buyers or offers coming in on your condo listings are closely scruitinized. Make sure to give me a call today if you have any 5% down condo buyers - Our parent company (Waterstone Bank) seems to be the only common-sense lender out there - We'll do everything possible to get your deal done!
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