Can I get approved with low down payment on a condo?

Yes! FHA loans allow as little as 3.5% down on approved condos. Conventional loans require 10-20% depending on credit and income. Some portfolio loans offer even more flexibility. We help you find the program that works for your situation.

What is HOA approval and how long does it take?

HOA approval means the HOA has reviewed and approved your mortgage lender's request to finance your purchase. It typically takes 3-5 business days, but we work to expedite this process. With our HOA relationships, we often get approval faster.

Why was my application denied due to HOA issues?

Common HOA issues include: too many delinquent accounts, insufficient reserves, pending special assessments, or too many investor-owned units. We review HOA documents upfront to identify issues early and find solutions or alternative loan programs.

Can I still buy a condo with a challenging HOA?

Often yes! We have access to portfolio loans and specialized lenders that work with challenging HOAs. While some restrictive loan programs won't touch them, other options may be available. We explore all possibilities.

Do Florida’s condo safety laws affect financing?

Yes. Condo buildings three stories or taller need a milestone inspection by December 31 of the year they turn 30, then every 10 years (s. 553.899). They also need a structural integrity reserve study at least every 10 years (s. 718.112). Lenders review these reports, and Fannie Mae will not buy loans in projects that need critical repairs. So ask for both reports early.