A Florida condo loan finances both the unit AND requires the building to qualify — lenders review HOA finances, owner-occupancy, insurance, and post-Surfside SB 4-D structural reserves. We work both warrantable buildings (3% down conventional) and non-warrantable specialty financing (20–30% down portfolio loans) other lenders deny.
Check My Building’s Status
Most lenders only finance straightforward warrantable condos. We handle the full spectrum — including the post-Surfside compliance complexity unique to Florida.
Most Florida lenders only finance warrantable condos (Fannie/Freddie approved). We work both sides — including specialty portfolio loans for non-warrantable buildings other lenders won’t touch.
FHA-approved condos: 3.5% down. VA-approved condos: 0% down for veterans. Conventional warrantable: 3% down for primary. Non-warrantable: 20–30%. We’ll find the right path.
Florida’s 2022 condo safety law (SB 4-D) added structural integrity reserve studies and mandatory milestone inspections. We know exactly which buildings clear the new requirements.
Florida is a global condo destination. We structure foreign national loans (no SSN), DSCR loans for investment condos, and bank statement loans for self-employed buyers — in any qualifying building.
Condo financing isn’t harder than single-family — it’s just different. Here’s what actually matters when you’re shopping a unit in Florida.
Warrantable condos meet Fannie Mae/Freddie Mac guidelines: 51%+ owner-occupied, no major litigation, no single entity owning more than 10% of units, commercial space under 35%, adequate HOA reserves. Conventional loans apply. Non-warrantable fails one or more — requires portfolio financing with 20–30% down minimum and rates roughly 0.5–1.5% higher.
After the 2021 Surfside collapse, Florida passed SB 4-D requiring condo buildings 3+ stories to complete a Structural Integrity Reserve Study (SIRS) and mandatory milestone inspections at 25 and 30 years. HOAs can no longer waive reserve funding. Lenders now check SIRS compliance in the condo questionnaire. Failed or missing SIRS reports make a building unfinanceable until resolved.
A 1–2 page form completed by the HOA. Lenders check: owner-occupancy percentage, concentration of single-entity ownership, HOA dues delinquency rate, total reserve fund balance, pending litigation, insurance coverage (hazard, flood, windstorm, master liability), special assessments planned or in progress, SIRS compliance, and commercial space percentage. Any red flag pushes the loan to non-warrantable.
Buildings with 51%+ owner-occupied units are warrantable for primary residence loans. Under 50% pushes you to non-warrantable. Investment property loans require 50%+ owner-occupied. Best pricing kicks in at 70%+ owner-occupied. Always ask the listing agent or HOA for the current ratio before falling in love with a unit — it determines your financing path.
Have a specific building in mind? Send us the address — we’ll tell you within 24 hours whether it’s warrantable, FHA-approved, VA-approved, or needs specialty financing.
Check My BuildingThe right loan depends on the building’s status and your situation. Here are the four main paths.
| Warrantable Conv. | FHA-Approved | VA-Approved | Non-Warrantable | |
|---|---|---|---|---|
| Min Down Payment | 3% (primary) | 3.5% | 0% (eligible vets) | 20–30% |
| Min FICO | 620+ | 580+ | 580+ (lender typical) | 680+ |
| Rate vs Standard 30-yr | Best market rate | Similar to conv. | Often slightly lower | +0.5–1.5% |
| Building Approval Required | Fannie/Freddie OK | FHA approved list | VA approved list | Portfolio lender OK |
| Owner-Occupancy | 51%+ | 50%+ (often 35% w/exception) | 50%+ | Any |
| MIP / PMI | PMI if <20% down | MIP for life of loan | None (funding fee only) | Varies by lender |
| Best For | Most buyers, warrantable bldg | First-time buyers | Veterans + active military | Non-warrantable bldg or speed |
Slightly longer than single-family due to condo questionnaire turnaround, but we coordinate the HOA paperwork so you don’t have to.
Tell us the address. We check whether the building is FHA/VA approved, on Fannie/Freddie’s lender list, and whether it’s flagged as non-warrantable — before you offer.
Submit income, asset, and credit docs. We issue a pre-approval letter within 24 hours scoped to the loan type that fits your target building.
We coordinate with the HOA or property manager to get the full condo questionnaire. Typically takes 5–10 business days; we follow up daily.
Standard 30–45 day underwriting. The appraisal includes a unit walkthrough plus a review of the building’s comparable sales in the same project.
Sign closing docs and get your keys. We coordinate insurance binders (HO-6 for the unit + verification of HOA master policy) at closing.
Lower maintenance and amenities are real benefits, but so are the costs and restrictions. Know what you’re signing up for.
The questions Florida condo buyers ask most, including post-Surfside compliance topics. Don’t see yours? Ask Alex directly.
Alex Doce has closed thousands of Florida condo loans over 38 years — from Miami high-rises to suburban townhomes, warrantable to non-warrantable, post-Surfside compliant to specialty buildings. Send us the address and we’ll tell you exactly which loan paths work for that property. No obligation.
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