Jumbo Condo Mortgage Loans & Jumbo Condotel Mortgage Loans!
Jumbo Condo Mortgage Financing Requirements
- 5% Down Payment & 90% loan to value for owner occupied.
- 10% Down Payment for second homes.
- 35% Down Payment Investment Jumbo Mortgage Loans 65% loan to value.
Have you been turned down for a Florida Condo Jumbo mortgage loan because;
- You own too many properties.
- You have more than 10 properties with mortgages.
- Credit scores are a little too low.
- Foreclosure or a Bankruptcy over 4 years ago.
- Prior loan modifications.
Not to worry we close these types of loans all the time, we know the Mortgage Business and can Close Easy, Complex and Tough Deals. We do this by utilizing our years of experience and "Outside The Box Thinking" to get buyers pre-approved for the maximum loan amount possible while keeping their down payment and closing costs as low as possible.
Condo-tel Jumbo Financing Requirements
- 1, 3, 5 and 7-year adjustable rates ONLY, NO 30 Year Fixed Rates Available
- Minimum Loan amount is $200,000.
- All Condos and Condotels must have a full-size refrigerator, a 4 burner cook top stove and a separate bedroom.
- Primary Residences & Second Homes 25% down payment, Investment Purchases 40% down payment.
- Canadian and Foreign Nationals 35% down payment and 40% in the following counties. Polk, Lake, Seminole, Osceola, and Orange.
- Minimum 680 Credit Score.
- 12 months PITI Reserves required for all Properties Owned including this purchase.
Condo Hotel or Condo-tel Mortgages loans A Condotel (Condo Hotel) is a building used as both a Condominium and a Hotel and units are individually owned. Every room in the rental program might look identical and the unit owners have an option to place their unit in the hotel's rental program, where it is rented out like any other hotel room.
We offer loans for the entire state of Florida and all of the following cities;
Monroe County Florida Cities; Big Pine Key, Islamorada, Key Colony Beach, Key Largo, Key West, Long Key, Marathon, Marathon Shores, Sugarloaf Shores, Summerland Key, and Tavernier Collier County Florida Cities; Marco Island, Naples Golden Gate, Lee County Florida Cities: Alva, Boca Grande, Bonita Springs, Buckingham, Captiva, Cape Coral, Fort Myers, Fort Myers Beach, Lehigh Acres, Sanibel and Jacksonville, Tampa, Saint Petersburg, Hialeah, Orlando, Fort Lauderdale, Tallahassee, Hollywood, Pembroke Pines, Miami, Palm Beach, West Palm Beach, Boca Raton, Miramar, Sarasota, Gainesville, Bradenton