financing: CONDO FINANCING IN FLORIDA?
- 06/09/10 05:57 AM
CONDO FINANCING IN FLORIDA IS NOT A SIMPLE TASK. TODAY MANY LENDERS REFUSE TO LEND ON CONDO'S IN FLORIDA. HOWEVER HOMELYNX HOME LOANS IS OFFERING FINANCING ON FLORIDA CONDOS AND AT ATTRACTIVE RATES AND TERMS. PRIMARY RESIDENCE CONDOS -REQUIRE A DOWN PAYMENT OF 25% DOWN SECOND HOME CONDOS- REQUIRE A DOWN PAYMENT OF 30 % DOWN WE DON'T NEED A CONDO QUESTIONNAIRES JUST THE APPRAISAL AND THE DOWN PAYMENT. CALL ME AND I'LL FILL YOU IN ON RATES AND TERMS
MARK A. CAMPBELL, VP
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financing: Condo Financing in Florida- A Real Problem!
- 04/20/09 12:05 AM
Investors have taken a hard stance on Condo financing in Florida. Today certain Investor's such as Chase Mortgage have decided they will not offer the ability to purchase any loans were the the property is secured by a condo. Other Investors have place limits on the maximum Loan to Value at 75%. Borrowers who are looking to purchase a 2nd home Condo are like wise receiving the grim news of difficult financing terms. Most 2ND home Condos in Florida are limited to 70% LTV.
Investors looking to buy units in Florida are out of luck unless they can pay cash … (0 comments)
financing: FHA/ VA -CREDIT SCORE INCREASE
- 02/22/09 01:11 AM
EFFECTIVE FEB 21, 2009 INVESTORS WHO BUY FHA/ VA LOAN PAPER HAVE INCREASED THE MINUMUM SCORE REQUIREMENT TO 620. AGAIN THIS MAY NOT SOUND LIKE MUCH BUT THIS CHANGE WILL EFFECT A LOT OF POTENTIAL CUSTOMERS. EVEN WITH THIS CHANGE FHA/ VA FINANCING CONTINUES TO BE THE PRODUCT FOR A LOT OF AMERICANS. WITH DOWN PAYMENTS REQUIREMENT A 3.5% AND RATES FOR FIXED RATE PRODUCT IN THE 5% RANGE MANY CUSTOMERS ARE FINDING HOMEOWNERSHIP. FHA has also increased loan limit on FHA loans for 2009 this will help more borrowers find affordable housing.
CONDO FINANCING IN FLORIDA IS NOT A SIMPLE TASK. TODAY MANY LENDERS REFUSE TO LEND ON CONDO'S IN FLORIDA.
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