The following *great* explanation of this frequent issue in condo purchasing comes courtesy of Jono Sexton of Blue Hills Bank… it covers what banks look for in a condo, in what situations the guidelines matter most, and what can be done in the worst case scenarios. When financing a condominium, as a bank we hope we can use a LIMITED PROJECT REVIEW (aka ‘limited’, or , ‘LPR’) for the condo approval. That means that most of the normal condo guidelines do not apply. LPR is only

It’s been interesting this year looking at the search terms people use to find this blog. Aside from those looking for me specifically, or searching “Cambridgeville,” it seems the two most common searches that lead people here are regarding multiple-offer scenarios and portfolio loans. Since these seem to be the hot topics of the day,  I thought it would be worth reposting both articles, starting here with a Q&A on portfolio loans. I’ve added a couple additional points, which