PUD vs. Condo, what’s the difference? » Mortgage Masters Group

What’s the difference between a duplex, a townhouse, an apartment, and a condo? Posted by Hughes Group Blog Team on Sunday, February 12th, 2017 at 11:10am. When it comes time to pick where you want to live, you actually have quite a few options.

Check to see what the loan limits are for each county in your state. View the current FHA and conforming loan limits for all counties in Virginia.paginated skips: scrawled nikolai PUD vs. Condo, what’s the difference? Mortgage Masters Group A condominium development is actually similar to an apartment development, except for several factors.

I would appreciate some clarification on how you determine the difference between a condo and a PUD for Fannie Mae purposes. I have attached the Fannie Mae definitions from the 2007 sellers guide for both condos and PUDs and the definitions of both from GMAC’s underwriting manual.

Appraisal vs Home Inspection, what is the difference? Mortgage Masters Group Often in a home purchase, home inspections and appraisals are both common practice. So what’s the difference? A home inspection is often a condition of a purchase and is usually done to protect the homebuyer.

A planned unit development (PUD) is a community of homes that could look like single family residences, townhomes or condos, and can include both residential and commercial units, but on paper, they’re most similar to condos.

You can get mortgage for 100% of the value. Funda is a disaster. I think the biggest difference is the very different.

Condominium Endorsement (ALTA 4 and 4.1): Overview. The Condominium Endorsement, ALTA 4, provides basic coverage to lenders assuring that the condominium project was created in accordance with state law. It also provides the same coverage regarding restrictive covenants, encroachments, and survey matters as generally required on loan policies.

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One such property type that many people are unfamiliar with is a planned unit development (PUD). If you were driving around in your car looking at houses, you would almost definitely not be able to distinguish a regular single-family home from a PUD.

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