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Updated almost 10 years ago on . Most recent reply

Ankit Patel's profile image
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Ankit Patel
  • from Downers Grove, Illinois
  • Member since Mar 6, 2015
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Ankit Patel's profile image
Ankit Patel's profile image
Ankit Patel
  • from Downers Grove, Illinois
  • Member since Mar 6, 2015
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Ankit Patel
  • Downers Grove, IL
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General Landlording & Rental Properties

Apartment Loan

Ankit Patel
  • Downers Grove, IL
Posted

I hear banks not approve loan for condo? I am planning to invest in condo to rent, but one of my friend told me bank not approve loan for condo so you need to go for all cash.

please let me know any one know on this.

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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

Your friend is mistaken.  Banks do make loans on condos, provided the condo meets their criteria.  Not all condos will meet the criteria.

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