Property Type Impact Calculator
How property type changes your loan
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You’re putting 20.0% down ($100,000). Loan: $400,000.
Condo (warrantable) (primary)
+0.125% vs single-family detached
Effective rate
6.375%
+0.125% vs SFR
Monthly P&I
$2,495
+$33 vs SFR
Lifetime extra cost
$11,740
over 30 years
Min down (primary)
3%
$15,000 on this price
Typical lender min score
620
you have 740
Loan program eligibility
Conventional
Eligible
FHA
Eligible
Project must be FHA-approved
VA
Eligible
Project must be VA-approved
USDA
Not eligible
Rural eligibility required
Lender notes
- •Warrantable = meets Fannie/Freddie HOA requirements (owner-occupancy %, financials, no litigation, etc.).
- •+0.125% rate hit at LTV >75% (LLPA condo adjustment).
- •Investment condos: 15% down minimum if the lender does a Full Review of the project; 25% if it uses Fannie's Limited Review (75% max LTV). Investment-property LLPAs also raise the rate.
- •FHA only on FHA-approved condo projects (FHA Connection database).
Baseline (SFR detached): rate 6.250%, monthly P&I $2,463, min down 3% (primary).