Co-ops, Condotels, Multi-Family Housing, and More
In This Chapter
• Co-op financing requirements
• Condotels and their potential for big bucks
• The market for multi-family housing
• A word about the commercial real estate market
Mortgages—and mortgage brokers—are needed for all kinds of properties. In this chapter, we’ll examine the nonconforming mortgage market. These are mortgages for properties that don’t fit Fannie Mae/Freddie Mac regulations for conforming loans of single-family housing. They include cooperative housing units (commonly called co-ops), large-scale, multi-family housing (which provides rental units), and condotels (the newest craze in vacation homes). We’ll also touch briefly on commercial real estate mortgages. ...