My wife and I are searching for a 55+ community to purchase a home, preferably a villa. Does the HOA for this community require, in its bylaws, that a buyer must pay 20% down? We are already preapproved for mortgage.

Ronald Cason | Oct 4, 2018 | Category: Villa

Greentree Villas - All questions

Address: 4674 Greentree Pl apt b, Boynton Beach, FL 33436, USA

Greentree Villas | Oct 4, 2018

Ronald Our Condominium Association does not require a buyer to put down 20%. However, we do not have reserves. Our experience has shown that many lenders will require a sizeable down payment because there are no reserves. Suggest that you discuss this with your lender.

Brian Hochstetter | Oct 4, 2018

I believe it is up to your bank or mortgage company on what you need to put down.

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My wife and I are searching for a 55+ community to purchase a home, preferably a villa. Does the HOA for this community require, in its bylaws, that a buyer must pay 20% down? We are already preapproved for mortgage.

Greentree Villas - All questions

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