Condo Mortgage Loan
Shopping for the perfect condo? Sun Capital Mortgage has a condo mortgage that is right for you.
Many people enjoy owning a Florida condominium rather having a house or renting an apartment. Reduced maintenance, community amenities or a popular vacation destination are just some of the benefits of condo living. With our Minimum Down Payment requirement, SCM makes obtaining a condo mortgage easier than ever before.
• Smaller floor plans available for those who don’t need a lot of space
• Desirable city location or popular vacation destination
• More reasonable price compared to single family home
• Community amenities such as pool and fitness center
• Reduced maintenance
Sun Capital Mortgage can do a full condo association review and many times get the condo unit approved! If the Condo doesn't qualify for a full review, the project may qualify for a limited review.
What's A Limited Review?
A Limited Review is much easier to get approved because there are;
- No condo Association Budget Review Required!
Fannie Mae Limited Review Condo Financing Requirements
- No litigation (Foreclosures are ok).
- Developer has transferred control of the association to the individual unit owners.
- The project must be 100% complete with no additional phases to be built.
- At least 90% of the total units sold and close.
- Must not be a resort condominium or condo-tel.
- No one entity can own more than 15% of the units.
- Commercial Space can’t exceed 20% of the total project.
We offer Financing for the entire state of Florida and the following cities:
Miami Beach Condo Loans, Orlando Condo Loans, Ft. Lauderdale Condo financing,
Naples Condominium and Condo Loan, Mortgages on Condos in Aventura, Mortgages on Miami Condominiums.
Sun Capital Mortgage, Inc. NMLS Id: 1241587
