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321-239-2781NMLS # 1922428
321-239-2781NMLS # 1922428
English EN Portuguese PT Spanish ES

With South Florida condominium sales on the decline, developers of luxury condos are offering incentives to buyers, and we can help provide you with non-warrantable condo financing.

Here is a sample of some of the deals:

  • Reach and Rise at Brickell City Centre (150 of 800 units are available) are offering a 10% cash rebate and two years of zero maintenance fees. For a typical $1 million unit, that can amount to $130,000 back over two years ($100,000 cash rebate plus $15,000 per year in condo fees).
  • W Residences Fort Lauderdale (64 of 171 units are available) is offering a three-year leaseback and three years of zero maintenance fees. For a typical $1 million two-bedroom unit, that can amount to $264,000 back over three years. (Specifically, the W Residences will pay the buyer 7% per year for three years. For a $1 million two-bedroom unit, that equates to $70,000 per year or $210,000 over three years. Plus, the condo fees average $18,000 a year on the same two-bedroom unit, or $54,000 for three years).

Click here for more information on the specific incentives being offered by these South Florida condo developers.

Do you need non-warrantable condo financing?

To the extent these condos are non-warrantable condos (i.e., not approved by Fannie Mae, Freddie Mac, the FHA or the VA), you will need special non-warrantable condo financing. Click here to learn how we can help with that.

David A. Krebs is a licensed mortgage broker offering commercial and residential loan programs beyond your regular bank. Call us at 321-239-2781, click here to submit a message, or click here to book a free consultation.