How To Get A Mortgage On New Construction Condos In Miami

Luxury oceanfront condo in Miami, ideal for new construction condo mortgages.

Securing Miami New Construction Condo Mortgages can be a complex endeavor. Miami’s booming market makes it a prime location for new condominiums, yet traditional lenders often hesitate to finance these properties, labeling them as non-warrantable. This categorization by Fannie Mae and Freddie Mac stems from mortgage regulations by the U.S. Department of Housing and Urban […]

How To Get A Loan For Rural And Large Acreage Residential Properties

Rural land with a bale of hay, potential site for Rural Property Loans

Securing Rural Property Loans for large-acreage properties like rural homes, farms, or former farms is markedly different from suburban home buying. The challenge lies in finding lenders willing to finance these unique rural properties. Due to the difficulty banks face in reselling these properties in case of foreclosure, they often fall outside the scope of […]

Bank Turndowns (Volume 3): What are some creative ways to qualify for a home mortgage loan?

Under the Dodd-Frank Act, mortgage lenders cannot extend a loan unless they first determine that the borrower will have a “reasonable ability to repay the loan.” 26 C.F.R. 1026.43(c)(1). Traditionally, large banks determine “ability to repay” based on a full checklist of documents from the borrower, including income tax returns, pay stubs, W-2s, and credit reports. However, many […]

Bank Turndowns (Volume 1): Was your home mortgage loan application denied?

Bank Turndowns (Volume 1): Was your home mortgage loan application denied?

You are disappointed that your bank rejected your home loan application, but this is a very common experience, especially in Florida. Indeed, based on the most recent data collected from thousands of lenders under the federal Home Mortgage Disclosure Act, of the top cities nationwide with the highest mortgage denial rates, the top four slots are taken […]