condo loans in miami: Problems with Financing and Loans in Miami Condos - 03/13/09 06:58 AM
How to get financing in such a difficult loan environment for Miami condos
These days banks have become very stringent on financing options for Miami condos. Due to new Fannie Mae and Freddie Mac guidelines, coupled with the shaky banks, most Miami condo buildings now fail to meet the requirements required for a bank to offer a loan for the purchase of any unit in that building. So even if you have solid credit, solid employment and want to put 20% down, the bank will say no. Believe it!
So how do you get around this? First, before we get into the … (0 comments)