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

PUD vs. Condo, what"s the difference?. Mortgage Masters Group NMLS Branch ID#: 373290 Phone 772-340-4003 Email doug@mortgagemastersgroup.com 481 SW Port St. Lucie Blvd. Ste. A Port St. Lucie FL 34953 View my complete profile. Blog Archive

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9 PLANNED UNIT DEVELOPMENTS AND CONDOMINIUMS 9-0 PLANNED UNIT DEVELOPMENT (PUD) A PUD is defined as a mixed-use residential development of single-family dwellings in conjunction with rental, condominium, cooperative or town house properties. A residential development should be processed as a PUD if it has these minimum characteristics:

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The main difference with PUDs as opposed to single family homes not in a PUD is the rules that homeowners must abide by. Even though you live in a single family home with your own yard and garage, you will still have to listen to the rules set forth by the association.

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While "condo" refers to the way you own your land, and PUD says you are a planned development, "townhome" is totally different. A townhome is an architectural style. We usually think of a townhome as a two story unit, frequently a condo, and frequently with a garage on the first floor.

Written By: Stacey Sprain In a recent meeting of the minds we determined that our closing and funding departments have been seeing an increasing number of doc correction requirements come through in regards to PUD properties. So we posed the question- What makes a PUD a real PUD? What should we ref