Condo financing has been even more difficult to complete from one year ago. The main reason is the significant amount of foreclosures and lack of the Association financial strength.

Fannie investor rule implementation requirements are very strict. I am having an issue with one loan right now due to insuficcient fidelity bond coverage issue. This was very new info to me.

I am advising all of my realtors to get the condo questionnaire filled out prior to completing the purchase and sale contract.

This will give me time to review the Condo Q to ensure we have a viable deal. This will avoid wasting time and monies if the condo is not warrantable. (Saleable to Fannie or Freddie)

I do have non-warrantable but the terms are not as favorable as warrantable financing.

CORE Mortgage Financial

 

Mortgage Application Documents
01/18/2010
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LOAN DOCUMENTS REQUIRED TO COMPLETE LOAN TRANSACTION ____ Original bank statements for the last 2 months. One quarter statement for IRA's stocks etc ____ Earnest Money Contract + cancelled check for deposit for purchases ____ Mortgage… more
Non Warrantable Condo's
12/01/2009
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We can Finance Non-Warrantable Condo's in the state of Florida 20% downpayment 4. 5% interest rate This is becoming a huge issue in Florida. Fannie Mae has specific guidelines on what makes a condo warrantable. The requirements of warrantability… more
Condo Financing
10/30/2009
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Condo financing has been even more difficult to complete from one year ago. The main reason is the significant amount of foreclosures and lack of the Association financial strength. Fannie investor rule implementation requirements are very strict… more
Construction Financing
10/22/2009
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Construction financing for residential properties has become very difficult. Most lenders have stopped doing CP (construction to permanent loans) due to the large amount of homes for sale. The construction financing for these projects has dried up… more
Mortgage rates in Naples, Florida
10/22/2009
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Mortgage Rates in Naples, Florida I have been serving hundreds of clients with quality of service in mind with every transaction. It is very important to find a mortgage company that will work hard for you. Why clients choose CORE Mortgage… more
Mortgage Broker in Naples, Florida
10/21/2009
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Mortgage Broker In Naples Florida. We provide financing for all residential and commercial properties. I have been serving hundreds of clients with quality of service in mind with every transaction. It is very important to find a Mortgage Broker… more
NO income loans
10/19/2009
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NO INCOME/ NO ASSET/ NO EMPLOYMENT LOANS These type of loans still do exist in today's market. They are primarily geared for people that cannot get financing but either have equity or putting a large down payment. I do not recommend these loans… more
Rates - APR - Points - Fees - GFE's: How the Playing Field is Still..
10/07/2009
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Via Steve Kappre, Gloucester County, NJ Loan Officer/Mortgage Planner - 856. 419. 3561 (Treasury Mortgage) : Rates - APR - Points - Fees: How the Playing Field is Still "Crooked" I talked to a client today who was shopping me against some other… more
SBA Financing is just plain tough
10/06/2009
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I am having a tough time getting SBA loans approved. The Small Business Administration has delivered 36% fewer loans than in 2008. The SBA offers banks guarantees on the money they lend to qualifying small businesses. If the borrower defaults, the… more
 
Core Mortgage Financial (Core Mortgage Financial)

Core Mortgage Financial

Naples, FL

More about me…

Core Mortgage Financial

Office Phone: (239) 514-2673

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