www.Florida-Mortgage-Lenders.com 
All Information is subject to change without notice.

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Questions

911loan@gmail.com

CLICK HERE
Reviews on Zillow
 
1399173
"Thomas went above and beyond to get our mortgage approved. We had a couple of "hiccups" with our VA financing and Thomas was able to get them resolved ... more "
5.0/5.0
by lbaze2008
1375949
"I was hesitant to utilize someone from the internet to obtain my home loan. I even let my real estate agent talk me into going with someone local ... more "
5.0/5.0
by rmac333
1345066
"Thomas martin was a great help with our mortgage . it was a stressful time in our life , but Thomas remained calm through out the whole process which ... more "
5.0/5.0
by zuser20140303145114251

CREDIT REQUIREMENTS Mobile top

FHA MORTGAGE

550 MIN FICO

PORTFOLIO MORTGAGE

NO MINIMUM

VA MORTGAGE

550 MIN FICO SCORE 

USDA LOANS

580 MIN FICO SCORE 

FANNIE MAE.

620 MIN FICO SCORE 

FREDDIE MAC

620 MIN FICO SCORE 

CALL NOW!

954-667-9110

Apply Now!

 :: 

MIAMI SELF EMPLOYED FLORIDA MORTGAGE LENDERS 

Miami Florida Lending Areas· Aventura -· Bal Harbour -· Bay Harbor Islands -· Biscayne Park -· Carol City -· Coral Gables -· Cutler Bay -· Cutler Ridge - Doral -· El Portal -· Fisher Island -· Florida City · Golden Beach -· Hialeah -· Hialeah Gardens -· Homestead -· Indian Creek -· Islandia -· Kendall -· Key Biscayne -· Medley -· Miami -· Miami Beach -· Miami Gardens -· Miami Lakes -· Miami Shores -· Miami Springs -· Naranja -· North Bay Village -· North Miami -· North Miami Beach -·MIAMI BEACH FL MORTGAGE LENDERS

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Fast Consultation

• 100 % VA Condo Mortgage Loans Down to a 550 fico!

• 96.5% LTV on FHA Approved Owner Occupied Condos=  3.5% Downpayment!

• 95% LTV on Owner Occupied Condos=  5% Downpayment!

• 90% LTV on Second Home Condos= 10% Downpayment!

• 80% LTV on Second Home Condos= 20% Downpayment

• 80% LTV on Investment Condos= 20% Downpayment.

• 75-80% LTV on Florida Non Warrantable Condos + Condotels.

• No Condo Questionairre 10% Down Florida Condo Lenders!

No Tax Return Self Employed Mortgage Lenders

Non-warrantable Condo Approvals!!

  • Up to 80% LTV
  • At least 30% of complex owner occupied
  • Condo litigation considered
  • Structural issues must be resolved and litigation is to recoup funds
  • Commercial influence exceeding FNMA limits considered                 
 

How do you know if your Florida condo purchase is warrantable?

Step 1 try these 3 warrantable condo links!

Step 2- Get a Florida Condo Questionnaire Filled out. Or Ask the association if the condo complex in question is warrantable.

FLORIDA CONDO MORTGAGE LENDERS

Florida condo mortgage applicants will find that a mortgage on a Condo is more complex than purchasing a single family or town-home or villa. There are additional requirements for Florida condo associations that do not exist in other typical Florida mortgage transactions. The Condo must be approved by the Florida mortgage lender via condo association questionnaire before you can get financing on a Florida condo.

MANY FLORIDA MORTAGE LENDERS WILL NOT MORTGAGE FLORIDA CONDOMINUMS

Having trouble getting a Florida condo mortgage because the condo you are interested in is being denied by your Florida mortgage lender? Florida mortgage lenders.com offers condominium mortgage loans on many Florida condos projects that are not Fannie Mae approved and which other Florida mortgage lenders consider not financeable. Conditions include the Florida mortgage applicant must: 

1. The Florida condo purchase must be a primary residence = 25% down payment for a purchase or 25% equity for a refinance.

2. 2nd Florida condo home loan transactions require a minimum 30% down payment for purchase and 30% equity in the Florida condo for a refinance.

Our expanded Florida mortgage approvals for condos require no condo questionnaire, no review of the association budget and no approval of the project reserves. It may seem counter-intuitive, but no matter how strong you may be as a Florida mortgage applicant, or what the down-payment/Loan-to-Value is; most Florida mortgage lenders will not mortgage Florida condos if they fail even basic criteria of a condo questionnaire. Details of most denials include: pending litigation in the project, low % of owner-occupancy, high % of current condo owners late on their HOA fees are just a few reasons that will kill your Florida condo mortgage. It is very risky to attempt to secure financing with Florida mortgage lenders that require Condominium questionnaire approval. A result of the Florida housing market crash is that most Florida condo projects have some of the aforementioned issues. The safe and easy path to a smooth Florida mortgage process is to work through one of the very limited number of Florida mortgage lenders that do not require Florida condo questionnaire approval.

Florida Mortgage Lenders.com is one of only a very small number of limited Lenders with Access to the Florida mortgage lenders that do not require a Florida condo questionnaire that offer these programs. 

QUESTIONS TO ASK THE FLORIDA CONDO ASSOCIATION:

1. Is the Florida condo project Fannie Mae or FHA Approved? If the answer is yes, then you may proceed as long as the Florida Condo is not on the Florida mortgage lender’sunbendable list (Yes, this is still possible even if a Florida condo project is Fannie Mae approved). It is important to note that some phases within a Florida condo project may be approved while others may not. This is a common mistake that can blow up many deals.

2. Am I eligible for a Florida condo Project Review Waiver? (Also called a Limited Review) Primary Florida condo purchases with a 25% down payment/equity. Second Florida condo home transactions with a 30% down payment/equity. Investment Properties are not eligible. Beware of lenders offering “Limited Review” of a condo but requiring a Condo Questionnaire. If a condo questionnaire is required, then it is not a limited review and you risk your loan being denied for factors not related to your individual credit worthiness. Check that your Condo is not on the lender’s list of denied projects. The Government Homeowner Assistance Program = HARP will allow you to refinance up to 125% of your home’s value if your Loan is owned by Fannie Mae or Freddie Mac. There is no project approval for these programs.

3. Can I get an Florida FHA mortgage in a Florida Condo that is not FHA Approved? No. Currently FHA and lenders are not allowing spot reviews of condos for FHA Loans. You should check which Condos in the area you are interested in buying are already FHA approved if you are interested in a low down payment FHA loan.

4. What is the minimum down-payment for a Condo Loan? For purchases, typically the minimum down payment is 20%. We encourage that you put more money down so that we can waive the project approval requirements. 25%- Owner Occupied. 30%- Second Home. If the project is FHA approved, you can purchase a primary residence with a 3.5% down-payment. For Refis, if the loan is eligible for HARP- Government Homeowner Assistance Programs- Then it is possible to get a condo home loan for up to 125% of the home’s value.

FLORIDA CONDOMINUM MORTGAGE REQUIRMENTS

Florida Mortgage lenders have requirements for condo financing.

Mortgaging a Florida condominium comes with a few more requirements than a standard Florida mortgage. Condominiums are mostly part of a condo association and the reputation of that association can affect a Florida mortgage applicants chances of obtaining condo financing. Due to the number of association delinquencies many Florida mortgage lenders have raised their requirements for financing when purchasing Florida condominiums. Large down payments usually between 20-30%, association questionnaire approvals and inspections approved directly by the Florida mortgage lender are some of the requirements that Florida condo buyers must meet before they obtain a loan for a Florida condominium. 

FLORIDA CONDO ASSOCIATION FEES

Living in a Florida condominium complex usually requires the unit owners to pay association fees. Most Florida mortgage companies can now refuse financing if 15 percent or more of the residents are 30 days or more behind on their association dues. Delinquency rates in dues worries Florida mortgage lenders because it casts doubt on the association's cash reserves and financial status.

New Florida condominium units and complexes have a minimum criterion of sold units to meet. Most Florida Mortgage Lenders now want to see at least 49 percent of the units sold or under contract before they will agree to financing.

FLORIDA CONDO INSPECTIONS

o Condominium inspections usally take place before the Florida mortgage applicant apply for condo financing.. However, all Fannie Mae-backed Florida mortgages for condos will have to undergo an inspection by a Fannie Mae representative. This includes the complex as well as an investigation into the association's financial situation. Previously, Florida condominium inspections were carried out but by the individual Florida mortgage lender.

FLORIDA CONDOS LOANS REQUIRE LARGER DOWNPAYMENT

Mortgage insurance (MI) companies are currently not providing private mortgage insurance in Florida due to the large number of defaults. As a result Florida condo mortgage applicants are required to put down a minimum 20 percent down payment.

www.Florida-Mortgage-Lenders.com

 

NORTH MIAMI BEACH FLORIDA MORTGAGE LENDERS CITY DATA

Population in 2013: 43,250 (100% urban, 0% rural). Population change since 2000: +6.0%

Males: 21,405     (49.5%)

Females: 21,845                (50.5%)

Median resident age:     37.1 years

Florida median age:        41.5 years

Zip codes: 33162.

Estimated median household income in 2013: $39,976 (it was $31,377 in 2000)

North Miami Beach:       $39,976

FL:          $46,036

Estimated per capita income in 2013: $18,924 (it was $14,699 in 2000)

North Miami Beach city income, earnings, and wages data

Estimated median house or condo value in 2013: $146,984 (it was $86,900 in 2000)

North Miami Beach:       $146,984

FL:          $153,300

Median gross rent in 2013: $973.

Recent home sales, real estate maps, and home value estimator for zip code 33162

North Miami Beach, FL residents, houses, and apartments details

POPULAR MIAMI FLORIDA GOOGLE SEARCH RESULTS:

 

Miami Florida Lending Areas· Aventura -· Bal Harbour -· Bay Harbor Islands -· Biscayne Park -· Carol City -· Coral Gables -· Cutler Bay -· Cutler Ridge - Doral -· El Portal -· Fisher Island -· Florida City · Golden Beach -· Hialeah -· Hialeah Gardens -· Homestead -· Indian Creek -· Islandia -· Kendall -· Key Biscayne -· Medley -· Miami -· Miami Beach -· Miami Gardens -· Miami Lakes -· Miami Shores -· Miami Springs -· Naranja -· North Bay Village -· North Miami -· North Miami Beach -·MIAMI BEACH FL MORTGAGE LENDERS

 

Apply Now

Questions

911loan@gmail.com

CLICK HERE
Reviews on Zillow
 
1399173
"Thomas went above and beyond to get our mortgage approved. We had a couple of "hiccups" with our VA financing and Thomas was able to get them resolved ... more "
5.0/5.0
by lbaze2008
1375949
"I was hesitant to utilize someone from the internet to obtain my home loan. I even let my real estate agent talk me into going with someone local ... more "
5.0/5.0
by rmac333
1345066
"Thomas martin was a great help with our mortgage . it was a stressful time in our life , but Thomas remained calm through out the whole process which ... more "
5.0/5.0
by zuser20140303145114251

MINIMUM CREDIT SCORE

FHA MORTGAGE

580 MIN FICO

NO TAX RETURN PROGRAMS

600 MIN FICO

PORTFOLIO MORTGAGE

600 MIN FICO SCORE 

VA MORTGAGE

580 MIN FICO SCORE 

USDA LOANS

600 MIN FICO SCORE 

FANNIE MAE.

620 MIN FICO SCORE 

FREDDIE MAC

620 MIN FICO SCORE 

CALL NOW!

954-667-9110

Apply Now!

All Information Subject To Change Without Notice and should not be relied on for decision making.