If you’re in the market for a townhouse, Priva Mortgage has the perfect loan programs to help you achieve your homeownership dreams. A townhouse can be a great starter home or the perfect family home for busy professionals who don’t have time for exterior work.
Townhomes give you a little more freedom than condos, but you still have a homeowner’s association to deal with, which can make financing a little more complicated but Priva Mortgage can help
Just like when you buy a house, you can put down as little as 3% on a townhouse with conventional financing or 3.5% with FHA financing. You are always welcome to make a larger down payment though. This can help you get qualified for even better loan terms
If you put down less than 20% on a conventional loan, you’ll pay Private Mortgage Insurance but only until you owe less than 80% of the home’s value.
Since buying a house with cash isn’t possible for most people, you probably wonder what credit score you need to get financed to buy a townhouse.
At Priva Mortgage, we offer a large variety of loan programs for people with good, average, and even bad credit. We make it easy for everyone who wants to buy a home to be able to achieve their homeownership dreams.
At Priva Mortgage, we make the townhouse buying process simple. It all starts with getting pre-approved. We’ll pull your credit, and you’ll provide us with your qualifying documents including your income, assets, and liabilities.
Our underwriters will review your documentation to determine what you can afford. If you’re approved, we’ll write a pre-approval better, which you can use when you look at homes.
Once you find a home, submit the purchase contract to us along with any outstanding conditions. Throughout the process, your loan officer will be in touch to keep you informed of where you stand and when you’ll be ready to close!
Our mortgage professionals are here for you every step of the way. If you’re buying a new townhouse, we’ll help you understand the steps needed to get it approved for financing. If you’re buying an existing townhome, we’ll order the appraisal and get the documents in for processing so you can meet your closing date included in the purchase contract.
If you’re thinking of buying a townhouse, contact Priva Mortgage today. We’ll go over your options including FHA and conventional loans. We also have options for other loans if you don’t meet the guidelines.
Call us today and talk with a professional loan officer who will walk you through the process and help you understand how to get approved to buy the townhouse you want for you and your family.
