Can’t Get A Condo Loan? Try one of These
Published: 13 February 2009 - Author: Marcus Burke
The last few months we’ve been explaining how impossible it is to get a condo loan these days - particularly on bank owned Orlando condos, regardless of credit score, money down – or job.
Well you’ll be pleased to know there are one or two exceptions – but they’re a rare find.
Condos that are FHA approved or Fannie Mae approved can still generate loans because they meet guidelines which suggest that the community is viable: guidelines with respect to number of investors, number of COA defaulters etc. etc.
Orlando Condominiums that are approved include Mirabella near Disney, and Millennium Palms and Stonebridge Reserve (pictured) in MetroWest. For more info on exactly how FHA lending works or a tour of these communities, just give us a bell! If your not a cash buyer, it’s the only way your going to buy a condo for the forseeable future.
Orlando Fannie Mae Condos | The Orlando Condo Blog on 20 Feb 2009 at 9:59 pm
[...] be argued that it makes no difference since they are already impossible in most cases, leaving only FHA backed loans as an [...]