GA CONDO LENDERS OPTIONS
- Georgia Condo Lenders Minimum Credit Score = Minimum Credit Score 500
- 3.5% FHA mortgage down payment for FHA Approved Georgia Condo Mortgage Loans.
- 100% financing for VA Approved Georgia Condo Mortgage Loans.
- 3% down payment for Fannie Mae Approved Georgia Condo Loans.
- 5% down payment Georgia Condo Mortgage For Owner Occupied.
- 10% down payment for Second Georgia Condo Mortgage.
- 20% down payment for Investment Georgia Condo Mortgage Loans.
- 20% down for Jumbo Georgia Condo Mortgage Loans.
- 20% down Non or Un Warrant-able Condo Lenders
- Loan Closings in as little as 21 to 30 days.
- We offer same day free same day pre approvals!
- 48-hour underwriting.
- We follow Fannie Mae underwriting guidelines and don’t add additional loan requirements like many Georgia banks do!
- We see out necessary information to determine if the Georgia condo mortgage will qualify for financing up front within 1 to 5 days so you don’t waste money on a Georgia condo inspection and appraisal if it doesn’t qualify.
- Many years combined experience working with national Georgia condo mortgage lenders.
- We work for you and only get paid when we’re successful condo mortgage closes! In most cases, our fees are paid by the Georgia condo mortgage lender so clients have no out of pocket expenses for loan origination costs.
- We don’t just offer the normal Georgia condo mortgage loan programs like most banks do, We offer ALL Georgia condo mortgage loan programs available and we offer them without the additional underwriting requirements and loan limitations that other Georgia mortgage lenders may have.
- We’re your direct access to many nationwide wholesale Georgia condo mortgage Lenders.
FL CONDOS GET TURNED DOWN BECAUSE:
- Won’t accept the master condo Insurance policy.
- Require 20% down payment.
- Require at least 51% be owner occupied & second homes.
- Is listed on their not lend list.
- It’s a Non Warrantable condo or a Condotel.
- If you have the Georgia condo association budget and the condo questionnaire already completed please email it to us for approval.
Georgia CONDO LENDERS DOWN PAYMENT REQUIREMENTS
Georgia condo mortgage applicants will find that a mortgage loan approvals on a Georgia Condo is more complex than purchasing a single famly house, townhouse or villa. With Georgia condos there are additional requirements for these Georgia mortgage transactions. The Georgia Condo association must be approved via condo association questionnaire before you can secure Georgia condo mortgage approval.
If the condo is on the FHA Approved List you can purchase the condominium as a primary residence with a 3.5% down-payment.
|FANNIE MAE CONDO DOWN PAYMENT|
|Primary Condo Residences Down payment:||5%|
|Second Condo Homes Down payment:||10%|
|Investment Condo Property Down payment:||10%|
For Fannie Mae not Approved Georgia Condos purchases, typically the minimum down payment is 25%.
We encourage that you put more money down so that we can waive the project approval requirements.
|LIMITED REVIEW CONDO DOWN PAYMENT|
|Primary Condo Residences Down payment:||25%|
|Second Condo Homes Down payment:||30%|
|Condo Questionnaire:||Not Required|
|Budget Review:||Not Required|
CONDO REVIEW PROCESS
A Georgia Condo Limited Review Lender process used by Georgia Condo mortgage lenders on properties for Georgia condo approvals. A full review can take time and can be costly and if the Georgia condo mortgage underwriter finds any flaws in the condo association’s financials and or if there are litigation issues, the Georgia condo mortgage loan applicant may get their condo mortgage loan application denied. Getting a Georgia Condo mortgage on a Georgia condo with the limited review is the way to go for projects not approved by Fannie Mae.