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

A PUD is defined as a mixed-use residential development of single-family dwellings in conjunction with rental, condominium, cooperative or town house properties.

Today Mark Cofer is talking about the difference between a condo and planned unit development or PUD. If you have any real estate questions please feel free to call our office at 626-335-6000 or.

PUD vs. Condominium. by Reed Colwick on June 2, 2011. Did you know there are differences between these two that could potentially make one un-financeable in today’s economy? First, what is a pud? pud stands for a Planned Unit Development. This type of development is used to describe a.

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First things first, let's define what a condo is, then we can do the same for a. The distinction is ownership versus renting, with condos being. kitchen, and bathroom, a bedroom or two and master bath upstairs, and possibly a garage below.. For example, you can get an FHA loan on a PUD unit without.

a housing unit in a project as of the date the condominium. or escrowed at 150 percent before insuring mortgages in the. appraisals" or issue a master appraisal report (MAR) or master. ON INDIVIDUAL OR GROUP APPLICATION FOR PROPOSED. processed as a planned unit development (PUD) if it contains,

A PUD, is a "Planned Unit Development". But the key ingredient is that in a PUD the homeowner owns their own home and the land beneath it. A condo, on the other hand, (short for condominium) may look the same as a PUD, but the homeowner only owns the interior walls and the interior airspace of the home.

However, if the legal documents for the project allow for unit insurance policies for each first mortgage that Fannie Mae purchases or securitizes in a condo or co-op project, Fannie Mae will accept the individual unit insurance policies that meet the requirements in B7-3-06, Evidence of Property Insurance, and Chapter B7-3, Property and.

What’s the diffenence between a PUD and a Condo or Townhome? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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