Can’t Get A Condo Loan? Try one of These

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.

5 Comments

  1. Marcus, are these 3 communities the only condominiums in Orange county that meet the requirements for Fannie Mae or FHA approval?

  2. Hey Craigg, Thanks for your comment. Are you ever gonna let us help you buy one of these deals?! 😉
    Feels like you’ve been following along for ages? Are you working with another Realtor – or just biding your time?
    To answer your question, no, they’re not the only ones, both the FHA and FNMA have their separate lists which are pretty sparse. I picked out the ones with which we are most familar and can vouch for in some respect or other.

  3. Hi Marcus, since you posted that blog in February, do you know if these neighborhoods are still viable for FHA loans or not? “Mirabella near Disney, and Millennium Palms and Stonebridge Reserve (pictured) in MetroWest.”

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