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
In order to buy a condo with FHA financing it must be on their approved list. Below is a list of approved condos for Broward County Florida. It’s not a lot but if you are looking in these condo projects it makes it very easy.
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.