Orlando Mortgage Blog

Florida Condominium Loans

January 29th, 2019 2:30 PM by BILL WILBANKS

The sunshine state has more condominiums than many other states combined. We offer lender financing under the three FNMA categories for condos as shown below.

Limited Project Review (For Established Projects)
Primary Residences to 75% LTV
Second Homes to 70% LTV
Investment Property to 70% LTV

Full Project Review (For Established Projects)

Primary Residences to 90% LTV

Second Home to 75% LTV

Investment Property to 75% LTV
 
Full Project Review - FNMA New or Recently Converted Florida Condos (Must be able to certify a 1028/PERS approval exists)

Primary Residences to 95% LTV
Second Homes to 90% LTV
Investor to 85% LTV

The Limited vs. Full Condo review (Established Projects) is a matter of a little more paperwork documentation to complete the approval process for the higher LTV you might need. Give us a call today for a more in-depth breakdown of program specifics. We can work with the condo association or their management office for you to get whatever you need to get it done.

Hey Florida! We want your condomium business. Now's the time to buy a home or that vacation unit on the beachside...Get ready for summer!

Posted in:General
Posted by BILL WILBANKS on January 29th, 2019 2:30 PM

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