A condo refi is similar to refinancing any other home. The lender will look at your income, assets, and credit to ascertain your qualification. Plus, the condo will also be appraised to determine the property value.
However, since there are more variables when refinancing a condo, such as shared amenities, lenders usually conduct a condo review.
It's worth noting that not every condo will require a review. A conventional loan refi of a detached condo typically won't need one since they're considered a single-family residence. The same goes for condo projects with four units or less.
Otherwise, it's safe to assume that you will need a review to refi your condo. Here's what that might look like.
