No, not exactly. The buyer will need to be credit worthy, with at least 5% down plus closing costs. Additional cash in the bank actually reduces the income qual

No, not exactly. The buyer will need to be credit worthy, with at least 5% down plus closing costs. Additional cash in the bank actually reduces the income qualification. The rub comes in after a buyer moves in and the HOA fees go up, or there is an assessment, but that is a risk for anyone who buys a condo. The number of applicants for below market rate, or BMR, far outstrips the number of available properties. If a buyer is diligent and timely with all the required MOH paperwork, they can beat other applicants since the washout rate is high. If you are interested, I suggest signing up to take the class, they are free.