We have received several updates this week from local lenders announcing exciting, new products that are now available for Condo Financing! A few of the local lenders are loosening up on Condo Financing in our area and hopefully other lenders will follow suit. Over the past few years it has been challenging for buyers to find lenders willing to finance condos without requiring high interest rates and hefty down-payments. Many buyers have missed out on incredible prices of condominiums in South Walton, Destin and Panama City simply because they could not find a willing lender to finance the transaction. Prices are still very attractive and competitive in the condominium market, so take advantage of these new products today.
Brian Robinson, home loan consultant with Prime Lending, announced a product for condo financing up to 80% Loan to Value for primary AND SECOND homes on 30 year fixed rates with loan amounts up to $600,000! Limitations of this product include but are not limited to: 1) that the condo cannot be above 8 stories 2) no REO or short sales allowed 3) the condo must be 750 Square Feet or larger 4) the development in which the condo is located must have more than 10 units 5) the development must have less than 40% or less investor concentration. For more details on this product and others, call Brian Robinson at Prime Lending today -(o) 850-837-7360. To reach Brian by email, send to BRobinson@PrimeLending.com.
Kristen Pope, local loan consultant, announced today that Gulf Coast Bank & Trust Company is offering Condo Financing with only 25% down payment! The interest rate is credit score driven and there are several products available including 1) interest only 2) 30 year amortizations on ARM programs 3) 3 or 5 year ARM’s available 4) 15 year fixed. For all details, options and limitations contact Kristen Pope at Gulf Coast Bank today – (o) 850-654-1994 (email) Kristen@KristenPope.com.
Call The Beach Group today and speak with one of our experienced agents that will be more than happy to provide you a complete list of local lenders, allowing you the opportunity to find the best rates and products that fit your needs. Click on the following links to explore all condominiums for sale and contact The Beach Group for all of your Real Estate Needs. Gulf Front Condos * WaterColor Condos * Seaside Condos * WaterSound Condos * Rosemary Beach Condos
The Beach Group * 850-622-0107 * www.TheBeachGroup.com