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CONDOMINIUM LOANS FLORIDA

Condominium Mortgage Loans for Warrantable and Non-Warrantable Condos
Simple qualifying for condominium mortgage loans for Florida homeowners.

Close with confidence.

Warrantable Condo Mortgages and Non Warrantable Condo Mortgage Specialists for Florida Borrowersar

Condos offer spectacular views, an extensive list of amenities and more security at a more affordable price than a single family home.  By definition, a condo unit is real estate in a building made up of individually owned units, whose owners collectively fund and maintain the building as a whole. ​

When financing a condo, there are different considerations and complexities involved in loan process that are unique to condo purchases.  Prior to approving a loan in a condo unit, the lender must evaluate a variety of factors about the property to ensure the property does not exceed their level of financial risk.  These items can include building occupancy ratios, legal and financial condition of the HOA, property age, structural integrity and amenities.  

CONDO LOANS PROGRAM HIGHLIGTS

CONVENTIONAL LOANS

  • Warrantable condos allow 3-5% Downpayments ($715,000 Max Loan Amount)

  • All condos on our Approved Warrantable list are eligible for 3-5% down

  • Refinance & Refinance cash-out programs allowed

  • Condos on our approved list do not require a condo questionnaire saving time and money!

  • We can beat banks on rate and close in 2-3 weeks on average

  • Limited Review Combo Program

    • Purchase, Refinance, and Cash Out Refinance Allowed 

    • First Mortgage with Fannie Mae up to $715,000

    • Piggy Back HELOC offered up to $500,000 (Automatically approved with the 1st mortgage)

    • Max Combined Loan Amount = $1,215,000 ($715K 1st + $500K HELOC)

    • Allows for 10% down limited review on $1,350,000 Purchase Price 

    • Limited reviews require no condo association budget review

  • We pre-review all condos before submission.

  • We are approved wholesale brokers with the top 10 conventional lenders. 

  • We have a 100% close rate on condo purchases year to date.

PORTFOLIO JUMBO LOANS

  • We have wholesale agreements with many Community, Regional, and National Banks 

  • Purchase, Rate & Term Refinance and Cash Out Refinances Allowed

  • Debt consolidation allowed with no cash-out limits

  • Warrantable & Non-Warrantable Condos Only

  • Loan Amounts up to $10M

  • Domestic Borrowers - Full income verification required

  • Foreign Nationals (Accountants Letter with 2- year income to date figure)

  • 680+FICO Required (No FICO needed for Foreign National)

  • Bank Rates + Broker Speed

  • Projects are Pre-Reviewed before Submission

NON-QM (NON-PRIME) PROGRAMS

  • Over 100+ Non-QM Lenders Approved 

  • Purchase, Rate & Term Refinance and Cash Out Refinances Allowed

  • Debt consolidation allowed with no cash-out limits

  • No Condo Questionnaire Options (Primary and Investment)

  • Loan Amounts up to $10M

  • Foreign Nationals allowed with no Documentation

  • Alternate Income Verification Allowed

    • 1-Year Tax Return Options   

    • Bank Statement Programs (3, 12 & 24 Months)

    • SE Borrowers Only

    • No Income Verification - No Income/No Employment Required

    • 1099 Only (1 & 2 Years)

    • P&L Only - Borrower & CPA Prepared

    • K1 Only (1 & 2 Years)

    • VOE Only - W2 employees only

    • Asset Depletion (Assets for Income)

    • ITIN "Dreamers" Allowed

PRIVATE LENDING

  • We have over 20 years of relationships with private lenders, local and national

  • Purchase, Rate & Term Refinance and Cash Out Refinances Allowed

  • Debt consolidation allowed with no cash out limits

  • No Condo Questionnaire Required

  • 30 Year Fixed Rates available

  • No Tax Returns or Personal Income Verification Investment Properties Only

  • Vesting in LLCs only

  • Does not report on personal credit

  • Foreign Nationals Allowed - 20% down Purchases

  • Condo-Tels Allowed

HARD MONEY/BRIDGE LOANS

  • We have over 20 years of relationships with private lenders, local and national

  • Purchase, Rate & Term Refinance and Cash Out Refinances Allowed

  • Debt consolidation allowed with no cash- out limits

  • No Condo Questionnaire Required

  • Rates start in the upper 8's

  • No Income Verified

  • Investment & Primary residences allowed

  • Close In LLC or Personal Name

  • Assets do not need to be seasoned (Large deposits are fine)

  • No Pre-Payment Penalties

  • 12-36 Month Terms - Interest Only

  • Foreign Nationals allowed - 20% down

  • Fundings 1-2 days after return of appraisal

Project Reviews

We pre-review all projects befire submissions to ensure the project is warrantable which means the projects meets conventional guidelines. If the project does not meet conventional guidelines it is considered non-warrantable.  

Qualifying Requirements

Condo projects must meet stringent project requirements in order for the condo to be approved warrantable. To see the requirements for warrantable and non-warantable condo projects see our blog here 

Certainty of Execution

We understand what it takes to close condominium loans. The first ingredient, is an experience loan officers who originate our condominium loans.  We pride outselves on our 100% purchase closing rate year to date.

All loans are subject to credit approval. Interest rates are subject to change daily and without notice. Actual terms and conditions will depend on the details of each application and will vary upon the loan type, purpose, lock-in period, credit score and loan to value. This advertisement shall not be deemed to be an offer to extend credit and subject to final credit approval. Call or email us today with the details of your real estate needs for a customized quote.


* Terms may vary based on your particular situation, purchase, cash-out or rate/term transaction. Rate adjustments and prepayment penalties may apply.


Copyright ©2022 Bennett Capital Partners, LLC. All rights reserved.

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