Condo Mortgage Loan
Shopping for the perfect condo? Point Mortgage has a condo mortgage that is right for you.
Many people enjoy owning a Florida condominium rather having a house or renting an apartment. Reduced maintenance, community amenities or a popular vacation destination are just some of the benefits of condo living. With our Minimum Down Payment requirement, PMC makes obtaining a condo mortgage easier than ever before.
• Smaller floor plans available for those who don’t need a lot of space
• Desirable city location or popular vacation destination
• More reasonable price compared to single family home
• Community amenities such as pool and fitness center
• Reduced maintenance
Point Mortgage can do a full condo association review and many times get the condo unit approved! If the Condo doesn't qualify for a full review, the project may qualify for a limited review.
What's A Limited Review?
A Limited Review is much easier to get approved because there are;
- NO Condo Association Delinquent Dues Requirements!
- NO Condo Questionnaire or Association Budget Review Required!
Fannie Mae Limited Review Condo Financing Requirements
- No litigation (Foreclosures are ok).
- Developer has transferred control of the association to the individual unit owners.
- The project must be 100% complete with no additional phases to be built.
- At least 90% of the total units sold and close.
- Must not be a resort condominium or condo-tel.
- No one entity can own more than 10% of the units.
- Commercial Space can’t exceed 20% of the total project.
We offer Financing for the entire state of Florida and the following cities:
Miami Beach Condo Loans, Boca Raton Condo Loans, Ft. Lauderdale Condo financing,
Naples Condominium and Condo Loan, Mortgages on Condos in Aventura, Mortgages on Miami Condominiums
