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

The reality is that a single deed means that the townhouse or condo is a single family residence NOT a multifamily property. 2. Duplexes (2 to 4 units) are usually under one deed and hence they have multiple tenants. In the strictest sense of the word, they could be called multifamily.

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9-0 PLANNED UNIT DEVELOPMENT (PUD) A PUD is defined as a mixed-use residential development of single-family dwellings in conjunction with rental, condominium, cooperative or town house properties. A residential development. mortgage loan. FHA’s interest is therefore more immediate and

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That means if your condo is $200,000, you need to have $50,000 in your savings to put down at closing or get a higher interest rate compared to if you bought a townhouse for the same price. Lenders have been wary of condo loans since the whole mortgage breakdown. They aren’t worried just about you as a condo owner defaulting on the loan.

Elderly people living in Florida generally hate everything and everybody. They are known as "condominium commandos" because nobody else is right except them. The cops have even had to keep an eye on.

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A "site condo" is most likely a freestanding condo (not attached to other units) and is a single unit located on condo association land. You can also have pud freestanding units where the land is owned by the building owner and the owners pay a monthly/quarterly fee for all exterior maintenance, very similar to and often confused with condos.

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