Florida Condo Lenders – Florida Condo Loans

Shopping for the perfect Florida condo loan? Now obtaining a condo loan can be easier than ever when your dealing with professional condo lenders. Whether you are purchasing a Floirda condo as your primary residence, second home or investment. Florida-Mortgage-Lenders.com can help.


100% Florida VA Mortgage loans down to 550 fico!

  • 96.5% financing for FHA Approved Condos only- Must be on the Florida FHA approved condo list Click here to check the FHA Approved list.
  • 95% financing for primary Florida condo residences – only 5% down payment! Must be on Florida Click here to check Florida Fannie Mae approved condo list.
  • 90% financing for second Florida Condo homes – only 10% down payment! The condo is a second Florida home if its located no more than 50 miles from the primary residence.
  • 75% financing for Florida condo investment homes – only 25% down payment! The Florida condo in question is an income producing condo that is not intended as a primary residence
  • 15 or 30 year fixed rate Florida condo loan terms available.
  • 3/1, 5/1, or 7/1 ARM also offered
  • In comes the Florida VA mortgage  to the rescue for Condo Buyers and current Florida Condo homeowners. To qualify for a Florida VA Mortgage the Florida condo must be on the VA Approved Condo list, which includes many existing complexes.   You can search for VA Approved Condos yourself, or let us assist you,we are here to help. 





Let me Close your Conforming / Agency Fall Out Loans that are DENIED Due to the STRICT Guidelines since the 2008 Mortgage Lending Melt-Down!!! 


Non-Warrantable Condos Acceptable.


(No longer required to be FNMA warrantable)


 We do Non-Warrantable Condos – No longer required to be FNMA Warrantable


  • Condo Requirements (no longer required to be FNMA warrantable) (If the condo makes sense, exceptions may be made to the Basic Requirements below)


    • Must be 100% complete
    • No condo/hotel
    • Maximum 50% investment occupied unless in a resort area and typical for the area
    • Maximum AOF penetration is 25%
    • Must be 75% sold and closed
    • No pending litigation
    • Minimum 400 square footage
    • No single entity can own more than 10% of the units
    • No multiple dwelling units and units must be fee simple



Contact our experienced, licensed Florida condo loan professionals for assistance in determining the proper Florida mortgage lender for your condo loan. 

Important Update: Floirda Condo Loans with NO Condo Approval Are Now Available For Primary Residences and Second Homes in Florida.

Having trouble getting a Florida condo loan because the condo you are interested in is being denied by your lender? Florida-Mortgage-Lenders.com  offers Florida condo Loans on many Florida Condos projects that are not Fannie Mae approved. Most of which other Florida condo lenders consider unlendable. 

In general, Florida condo loans are more complicated than purchasing a single family or town-home. When purchasing a Florida condo there are further components to the approval process that doesn’t exist in a regular Florida home purchase. Florida condos require a detailed condo questioner filled out by the association to determine what type of financing can be obtained. Below we have listed an example of the Florida condo questionnaire required to be filled out by the association to determie exactly what type of financing the condo qualifyies for. 

 SECTION 1: Completion and Sales Information

1. What is this units/projects HOA Fees? $
2. What is the total number of units in the entire project?
3. What is the total number of units sold in the entire project?
4. How many total legal phases are in the project?
5. Is the project subject to additional phasing or add-ons?  Yes  No
6. Are all phases complete including facilities & common areas and limited common elements? If no,
describe incomplete areas:  Yes  No
7. Are the unit owners in control of the Homeowner’s Association?  Yes  No
8. Date the unit owner’s took control of the Homeowner’s Association. / /
9. Total number of units in project that are owner occupied or 2nd homes?
Total number of units in project that are tenant occupied?
10. Does any single entity own more than 10% of the total units in the project (with the exception of the
developer on new construction or new conversions)?  Yes  No
SECTION 2: Subject Phase (Complete only if the project consists of greater than one phase)
11. Which phase # is the subject property or specific unit located in?
12. What is the total number of units in the subject’s phase?
13. What is the total number of units sold in the subject’s phase?
14. Total number of units in subject phase that are owner occupied or 2nd homes?
Total number of units in subject phase that are tenant occupied?
SECTION 3: Project Characteristics & Amenities
15. Does the subject allow short term rentals? If yes, does the project have on-site registration/check-in
desk, cleaning/maid and or master telephone service(s)?  Yes  No
16. Is there manufactured housing, timeshare/segmented ownership, houseboat, or cooperative housing
units in this project?  Yes  No
17. Does the project contain one or more units with less than 400 square feet of space? (not applicable
for established projects)  Yes  No
18. What percentage of the total square footage of the project is used for non-residential or commercial
19. Does the HOA own or operate any business located inside the project? If yes, describe business?  Yes  No
20. Is the project on leased land? If yes, please attach a copy of the executed lease agreement to this
questionnaire.  Yes  No
21. Are the units separately metered for electricity and gas?  Yes  No
22. Do the unit owners have sole interest in and rights to the use of all recreational facilities, common
areas and limited common elements?
If yes, are these common facilities owned solely by the project’s HOA and/or Master Association?  Yes  No
SECTION 4: Legal/Financial Information

23. Provide the number of unit owners that are 30 days or more delinquent in their unit dues/assessments.
24. Is the HOA subject to current OR pending litigation with anyone for any reason (regardless of being
named plaintiff or defendant)? If yes, describe in detail below. Include nature of litigation, dollar amount and if insurance carrier has been engaged. Please attach any available documentation regarding litigation from attorney detailing the nature of the litigation, provide copy of filed court documents, current budget and any correspondence to homeowners regarding litigation.  Yes  No
25. Are any special assessments planned in the next year? If yes, provide below purpose of special
assessment and approximate dollar amount to be collected and available payment plans.  Yes  No
26. Current amount in the replacement reserve account (not the operating account)? $
27. Is the reserve account kept separately from the operating account?  Yes  No
28. Are dual signatures required for check writing?  Yes  No
29. Have there been any special assessments in the past 12 months? If yes, describe in the space below
the purpose of the special assessment along with the total dollar amount.  Yes  No
30. Is there a check- in-desk/ registration desk for leased/rented units?  Yes  No
31. Does the budget include any rental income?  Yes  No
32. Are any services or amenities within the project provided by hotel motel or resort operator?  Yes  No
33. Is the budget adequate and provides for the funding of replacement reserves for capital expenditures
and deferred maintenance (at least 10% of the budget), and provides adequate funding for insurance deductible amounts?  Yes  No
34. Does the Homeowner’s Association have a management agreement which is reasonable (generally,
a one year renewable term) and can be cancelled, with or without cause, by the HOA with no more than 90 days notice?  Yes  No
SECTION 5: Insurance Information
Please do not enter “Contact Agent”
35. Does the master hazard/dwelling policy include HO-6 endorsement or cover the interior of the units
(including walls, flooring cabinetry)?  Yes  No
36. Does the master hazard/dwelling policy cover betterments and improvements?  Yes  No

• Primary Condo Residences 5% down payment.
• Second Florida Condo Homes 10% down payment.
• Investment Florida Condo 15% down payment
Florida Condo Projects and phases must be listed on the Fannie mae approved list below to qualify for the
Click here to check the Florida Fannie Mae condo list
Click here to check the Second Florida Fannie Mae condo list
If your Florida condo is NOT on one of the lists fannie mae approved list above we can do a FLORIDA FULL CONDO REVIEW. Most of the time we can get the Florida condo unit approved! If the Florida Condo doesn’t qualify for a full review, the project may qualify for a FLORIDA CONDO LIMITED REVEIW.
What’s A Limited Review? A Limited Review is much easier to get approved because there are;
• NO Condo Association Delinquent Dues Requirements!
• NO Condo Questionnaire or Association Budget Review Required!
Fannie Mae Limited Review Condo Loan Requirements
• No litigation (Foreclosures are ok).
• 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 10% of the units.
• Commercial Space can’t exceed 20% of the total project
• 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.

Non Warrantable Florida Condos are projects that Fannie and Freddie won’t insure due to;
• Condo Association doesn’t keep track of the # of Owner Occupied & Investor Owned units.
• Daily Rentals or on site Rental Desk.
• New or Florida condo Project Not Completed.
• Too many Investor or Bank owned units.
• High Association Delinquent Dues %.
• Square footage of unit is too small.

• Minimum 620 Credit Score
• Canadian and UK Residence up to 35% down payment (South Florida Counties only)
• Primary Residences 20% to 25% down payment
• Second Homes 20% to 25% down payment
• Investment Purchases 40% down payment
• 6 months PITI Reserves required for all Properties Owned
• Non conforming over 417,000 Condo loans are ok


Florida Condo Loans

Florida Condo Loan Programs





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FHA-Mortgage-Lenders.com is not a direct FHA Mortgage Lender. Information on this site Is for example purposes and should not be relied on for decision making.

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