Welcome to Today’s Monday Mailbag!
Hey guys! It’s Mark and here’s today’s Monday Mailbag!
“Does my mortgage start when my condo is built?
Guys – this one’s a doozy. Actually, when you buy a pre-construction condo, you may run into a situation where the builder lets you build into the unit prior to construction being completed. This is known as your occupancy period, or your “squatting period,” because the building isn’t complete.
You won’t actually be able to start making mortgage payments at that point, however, there is still an interim occupancy fee that is due to the builder every month.
Contact me today for all your condo needs!
Hamilton Mortgage Agents
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