We have been seeing many banks and mortgage companies struggling to get deals closed because they do not understand what is needed on a master insurance policy. Specifically they do not understand Fannie Mae & Freddie Mac’s guidelines when it comes to co-insurance
Many are struggling to get financing on condos in Fort Lauderdale and South Florida. One of the main issues is due to the condo project not having enough reserves.
Below is a list of condos in our area we have recently closed with Conventional Financing. Note that the ones that were approved with as little as 5% down as a primary residence. And at times we can do as little as 3% down.
