Upcoming Foreclosures

Can I buy a Condo with Fannie Mae?

What are the condo guidelines when buying with Fannie Mae? Can it be a foreclosure?

Public Comments

1. Not sure who Fannie is, but I wouldn't mind if you bought me one.
2. You would buy it through a lender who works with Fannie. Foreclosures aren't prohibitied.
3. Yes, Google Fannie Mae...lots of info. I think the condo has to have 5 or more units to qualify. Good luck!
4. It must be warrantable - fully completed, HOA control by owners, not too many non-owner occupied units, etc. Research guidelines on Fannie Mae's website.
5. Of course you can. Just be careful and make sure that the Condo is FNMA compliant! Check out the best site on the web for getting the most knowledgealbe Brokers in the US to answer these questions for you! By the way, I'm a loan officer in Michigan.
6. Good finance question! I know of an organization that gives up to $1500 to people to help them with their rent or mortgage. It's available in most US cities, I highly suggest you check it out. http://www.housing-assistance.org Best of Luck.