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Florida Condo Financing

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Refinance Purchase

Florida Condo Financing

RK Mortgage Group is a leader in Florida condo financing. Condominiums offer a lot of convenience and flexibility. They also have different mortgage requirements than a traditional home. That's why we offer very exclusive product options for condos, whether they meet Fannie Mae’s / FHA guidelines or not. Benefit from our experience in getting you the best condo financing at a lower rate.

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Why Choose Us
Low Rates

We offer one of the industries lowest rates.

Secured Online Process

Upload loan documents and e-sign mortgage forms online.

Exceptional Customer Service

Your dedicated Loan Specialist will be your guide from application to closing.

Fast Financing

We’ll help you close quickly, so you can get the keys to your new home in no time.

How it works
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Full review vs Limited review

Full review option:

Florida condo mortgage applicants will find that a mortgage on a Condo is more complex than purchasing a single family or town-home or villa. There are additional requirements for Florida condo associations that do not exist in other typical Florida mortgage transactions. Full review process requires condominium project approval via condo association questionnaire before your loan approval is issued by underwriter.

Down payment requirements under full review program:

  1. For FHA approved condo project minimum down payment is 3.5% (primary residence only).
  2. For Fannie Mae approved condo projects down payment is 5% for primary residence and 10% for second home.
  3. For condo projects not approved by FHA and/or Fannie Mae, the minimum down payment is 10% for primary residence.

Limited review option:

Limited review is a way to go for condo unit buyers. A full review can take time and can be costly. If the condo mortgage underwriter finds any flaws in the condo association’s financials and/or if there are litigation issues, the condo mortgage loan applicant can get their condo mortgage loan application denied. Limited review program does not require condo questionnaire and condo financials to be reviewed by the underwriter. Therefore, condo buyers have much higher chance of getting approved under limited review program vs full review.

Down payment requirements under limited review program:

  1. Primary residence - 10%
  2. Second home - 30%
  3. Investment - 30%