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David A. Krebs is a licensed mortgage broker with over 15 years of experience offering loan options beyond traditional banks

2.875% Interest Rate for Miami Condominium Purchase

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mortgage for miami condo

On behalf of an outreach manager for a health clinic, we obtained a purchase loan for his new home — a one-bedroom condominium in a luxury high-rise tower in downtown Miami, Florida.

Looking to relocate from Broward County, where he had been renting for the past several years, our client wanted to live in the heart of Miami and enjoy unobstructed water views.

One challenge was determining how to best show his income.  Besides receiving W2 income as an outreach manager for the health clinic, he was also receiving self-employment income from his own consulting company.

We were able to get him approved for a conventional, 30-year fixed program.  Based on his 675 credit score, he qualified for a 2.875% fixed interest rate and 80% loan-to-value.

Because the lender specializes in lending on condominiums, the loan process moved along quickly, and we were able to obtain the “clear-to-close” a week before the closing deadline.

Our client is now the proud owner of a gorgeous one-bedroom condominium in a desirable and convenient location.

Are you looking to purchase or refinance a condominium?  We can help.  Contact us today to discuss your scenario.

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Posted on

March 25, 2021

Miami mortgage broker

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