HFG Real Estate Blog

Breaking News | 95% Financing Condominium in Fort Lauderdale

Breaking News | 95% Financing Condominium in Fort Lauderdale

 written by Frank Vigliotti, Realtor and Co Founder of the Henri Frank Group.

Offices located in Fort Lauderdale and Wilton Manors.

Perhaps this is another sign of the real estate market recovery here in South Florida. We now have a condominium building that a lender only requires 5% cash down payment. Berkley Towers can be purchased with 95% financing through Supreme Lending, a mortgage originator with a strong presence here in South Florida. This is the first condominium building in eastern Broward County or all of Broward County that requires such little cash down payment.

 Up until now and for all other buildings in Broward County that are being governed by a condominium association, the cash down payment requirement has been a minimum of 20% and most required 25% of the purchase price in a cash down payment. These guidelines are a part of the Dodd-Frank Wall Street Reform and Consumer Protection Act , the federal government guidelines to lending, enacted in 2010 in response to the federal financial regulatory system, the US mortgage meltdown of 2007 and the Great Recession.

 Why is this important? It will attract more buyers to that building which will positively impact the selling price of those condominium units. Berkley Tower, a 19 story high-rise only one block from Fort Lauderdale beach has a remodeled lobby, commercial spaces on the first floor and offers a long list of luxury amenities, prices range from the mid-200’s up to the high-300’s. Investors this is an option if Condominium investments are what you are looking to purchase. The rental policy is liberal and allows you to rent the unit right away.

 As of today there are (8) active condominium units listed and (1) commercial suite listed for sale. A commercial suite at $99,000 being sold through a foreclosure is available.  Residential units, two bedroom, two bath with a underbuilding garage space are available from $204,999 to $379,999. 

Call me, Frank Vigliotti, at the Henri Frank Group located in Fort Lauderdale and Wilton Manors to preview units for sale at the Berkley Tower.


Fort Lauderdale RealtorBreaking News | 95% Financing Condominium in Fort Lauderdale

Related Posts

43Urban Village Townhomes | Brand New Construction

43Urban Village Townhomes | Brand New Construction   In the background are saws buzzing, hammers hammering and a crew of construction workers starting Phase II of this three-phase project. Units are ready for the sales team to host buyers and Realtors to preview this new construction project, 43Urban Village Townhome Community.   More good news,

Why You Should Find an Experienced Realtor in Miami

  “Miami Beach is a completely interesting hybrid because it is, on the one hand, a resort and, on the other hand, a real city. This condition of city and water on two sides I think is really amazing,” said Rem Koolhas, the Dutch architect. According to the Miami Herald, the South Florida real estate market

A Florida Home for the Holidays

    A Florida Home for the Holidays   by Frank Vigliotti, Realtor & Co-Founder of the Henri Frank Group at RE/MAX Preferred in Wilton Manors, Fort Lauderdale, Florida, USA December 8, 2013   Do you feel you are on Holiday overload? Constant television, radio and online ads are coming at us all day-long with