mortgage

What is a condominium?

 

What is a condominium?

The Bankrate.com financial term of the day is: "Condominium"

A condominium is a home that you own, surrounded by property that's shared. You hold the title to your living unit, while you and your neighbors together own the outside common areas and amenities, which can include lawns, landscaping, the parking lot and any swimming pool. You help maintain all of that stuff by paying a monthly fee.

If you want homeownership without the yard work, a condominium may be for you.

To find a great rate on a home loan, visit the Mortgage section at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement
advertisement

Blog

Allie Johnson

Buying a car? Don’t fall for the Patriot Act credit check scam

You go to buy a car. You have cash or financing in hand, but the dealer says, "Sorry, federal law requires a credit check. The Patriot Act, you know."  ... Read more


Connect with us