Condo Mortgage Florida
Financing a Florida condo is different from a single-family home. Warrantability, FHA condo approval, HOA reserves, and post-Surfside inspection rules all decide whether your loan closes. We check the building before you write the offer.
Condo Mortgage Florida — The Building Matters as Much as You
A Florida condo mortgage is underwritten on two things: your financial profile and the condominium association's health. That second part trips up a lot of buyers. A strong borrower can still be denied if the building fails warrantability. A perfectly warrantable project, on the other hand, can land you a conventional rate even with modest credit.
Official resource: HUD — FHA Approved Condominiums.
Warrantable condos meet Fannie Mae and Freddie Mac standards — owner-occupancy ratios, HOA delinquency limits, reserve funding, and insurance coverage. Hit those marks and you qualify for conventional loans at standard rates with as little as 3–5% down. Non-warrantable condos need portfolio or non-QM financing with a bigger down payment. Think Florida's coastal high-rises, condotels, and brand-new developments.
The rules tightened after the 2021 Surfside collapse. Florida now requires milestone structural inspections and fully funded reserves for older associations. Lenders dig into HOA budgets, reserve studies, and special-assessment history before approving any condo loan. Mortgage Capital pre-screens association documents up front. You'll know the building is financeable before spending a dollar on inspections.
Find Out If Your Florida Condo Is Financeable
We pre-screen the HOA and building before you write the offer · Warrantable & non-warrantable · NMLS# 1859012
Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.