VA Approved Condos In Broward County Florida (Updated 8/8/2017)
Below is a list of condos in Broward County Florida that are currently approved for VA financing per the VA portal:
FHA Approved Condos In Charlotte County (Updated 7/18/2017)
Below is a list of condos in Charlotte County that are currently approved for FHA financing per the department of HUD website:
| Condo Name |
Address | Composition of Project |
Expiration Date |
| WATER’S EDGE @ HERITAGE OAK PA | WATER OAK DRIVE PORT CHARLOTTE, FL 33948 |
Name: Water’s Edge at Heritage Oak Park; Project: Five 2-story Buildings, consisting of 52 units. | 11/14/2018 |
FHA Approved Condos In Collier County (Updated 7/18/2017)
Below is a list of condos in Collier County that are currently approved for FHA financing per the department of HUD website:
| Condo Name |
Address | Composition of Project |
Expiration Date |
| ARIELLE AT PELICAN MARSH | 2255 PELICAN MARSH BLVD NAPLES, FL 34109 |
27-2 Story 6,8, and 10 units buildings with 230 total units with a community pool and cabana. | 09/17/2017 |
| HUNTINGTON WOODS | HUNTINGTON WOODS DRIVE NAPLES, FL 34112 |
13 Duplexes consisting of 26 units | 11/08/2018 |
| NAPLES WINTERPARK | NORTHWINDS DRIVE NAPLES, FL 34112 |
Low-Rise 184 Units | 06/29/2018 |
| OSPREY POINTE AT PELICAN MARSH | WHIMBREL WATCH LANE NAPLES, FL 34109 |
96 units | 01/05/2019 |
| STONEGATE OF EAGLES | CYPRESS VIEW DRIVE NAPLES, FL 34113 |
38 Units | 05/13/2018 |
| THE ORCHARDS CONDOMINIUM | GARDNER DRIVE NAPLES, FL 34109 |
30 Buildings, 2 Story, Townhome Style | 05/19/2019 |
FHA Approved Condos In Lee County (Updated 7/18/2017)
Below is a list of condos in Lee County that are currently approved for FHA financing per the department of HUD website:
| Condo Name |
Address | Composition of Project |
Expiration Date |
| BIRCH COURT | 1027 SE 46TH LN CAPE CORAL, FL 33904 |
6 Units | 03/23/2018 |
| CASA DI FIORI | 119 WINDING PINES CIRCLE CAPE CORAL, FL 33909 |
BUILDINGS 13&18 (28 UNITS) WHEN CoMPLETED WILL CONSIST OF 296 UNITS IN 22 SEPARATE PHASED 2-STORY BUILDINGS | 03/21/2018 |
| CREEKSIDE PRESERVE | CREESIDE PRESERVE LOOP FORT MYERS, FL 33908 |
PHASES 38,39,40 COMPLETED 12 Units WHEN PROJECT IS COMPLETED,THERE WILL BE 42 PHASES WITH 168 UNITS. 2 STOREY 4 UNIT BUILDING |
12/20/2018 |
| GLASTONBURY AT THE PLANTATION | NEW MARKET STREET FORT MYERS, FL 33913 |
Project will consist of 108 homes in 27 phases, each planned to contain a two 2 story residential building with 4 homes with attached garage.Phase included: 2001-2007 & 2023-2027 (12 buildings with 4 units per building)48 units | 04/25/2018 |
| RIVERSIDE CLUB | 1900 CLIFFORD STREET FORT MYERS, FL 33901 |
49 units (7 floor highrise bld) | 10/23/2017 |
| SORRENTO | SOSTA LANE BONITA SPRINGS, FL 34135 |
Phase 16, 4 units: When completed will consist of 156 units, Phases 1-39. | 12/23/2017 |
| VILLAGES ON COURT SIDE LAKE II | LORENE DR ESTERO, FL 33928 |
90 units | 04/04/2018 |
VA Approved Condos In Charlotte County (Updated 7/18/2017)
Below is a list of condos in Charlotte County that are currently approved for VA financing per the VA portal:
| Condo Name | ID | Record Type |
| BOULEVARD WEST OF ROTONDA | 001072 | Condo |
| FOUNTAIN COURT | 000955 | Condo |
| HARBOR WALK | 000324 | Condo |
| NEWPORT GOLF & CC | H00283 | Condo |
VA Approved Condos In Collier County (Updated 7/18/2017)
Below is a list of condos in Collier County that are currently approved for VA financing per the VA portal:
| Condo Name | ID | Record Type |
| IRONSTONE AT THE QUARRY | 000300 | Condo |
| NAUTICA LANDING AT THE QUARRY | 000302 | Condo |
| TOWNHOMES AT TRAFFORD | H11614 | Condo |
| VERANDA IV AT CEDAR HAMMOCK | 000721 | Condo |
| VERANDAS AT TIGER ISLAND III | 000404 | Condo |
| VISTA I @ HERITAGE BAY | H11689 | Condo |
| VISTAS III @ HERITAGE BAY | H11615 | Condo |
| WORLD TENNIS CLUB CONDOMINIU | 000723 | Condo |
VA Approved Condos In Lee County (Updated 7/18/2017)
Below is a list of condos in Lee County that are currently approved for VA financing per the VA portal:
Mortgage Bankers Association Cuts Forecast
The Mortgage Bankers Association cut their forecast for new loan origination volumes in the first quarter of 2017 by 3.5%. They are citing higher interest rates as the key cog in the forecast cut.
Loan Limits Increase for 2017
The largest financing agencies of the United States government have decided to increase loan limits in 2017. Below are the highlights of the increase:
– FHA loan limit “floor” will increase to $275,665 from $271,050. (These are the limits observed in Lee County)
-FHA loan limit “ceiling” will rise to $636,150 from $625,500.
-Conforming Fannie Mae and Freddie Mac loan limit will increase to $424,100.
FHA states that maximum loan limits increased in 2,948 counties and remained the same in 286 counties.
Studies have estimated that these increases could have a billion dollar effect on the loan market.
First-Time Homeownership Driven By Millennials
According to the National Association of Realtors, first-time home buyers are getting off the sidelines and purchasing homes. The share of home purchases by first-time buyers rose to 35% this year from 32% last year.
This is a great sign that the job market is finally getting better for those who have less experience in the workforce. The low mortgage interest rates are also helping with affordability.
Published Interest Rates Misleading
There has been a lot of buzz lately regarding the difference between the published interest rate and the rate that is actually offered to borrowers. The interest rate published as the “average rate” by Fannie Mae and Freddie Mac is always lower than the actual interest rate offered by mortgage lenders or brokers. The reason for this discrepancy are loan level pricing adjustments “LLPA”. The published rate is the rate offered to borrowers with no negative loan level pricing adjustments. These can include credit score, loan to value, property type, and many other factors.
When you are shopping for your next home loan keep in mind that you probably will not qualify for the “average rate” published on websites.
Fannie Mae Day 1 Certainty
Day 1 Certainty is a new offering Fannie Mae is giving their lender partners.
This should mean greater speed and simplicity when lenders deliver loans to Fannie Mae. This will increase efficiency for lenders when verifying income, assets, and employment.
There will also be additional improvements for customers eligible for a property inspection waiver (PIW).
This efficiency should mean the an easier and more hassle-free loan process.
