July 15th, 2016 Finally and after years of trying, our partners at The CloseWithUs Team at Hamilton Group Funding, Inc. (NMLS 381561) had obtained the approval for 97% financing of Sole Condominiums. Now buyers can buy a condo at Sole with only 3% down.
The new financing approval means that buyers don’t need from 20%-25% down to buy a condo at Sole, they can own it with only 3%.
How Does It Work?
Get pre-approved to get financing.
Because the program to buy at Sole with 3% down is so new, we only work with our mortgage partners The CloseWithUs Team at Hamilton Group Funding, Inc. (NMLS 381561). They will pre-approved you and handle the financing of your new home.
Please click in the logos to start your application for Pre-Approval. This doesn’t mean that you are committed to buy. It just means that the financial institutions will lend you the money to buy.
Shop for your Condo at Sole
With your pre-approval letter on hand we will show you the units that are up for sale at the moment. We also will do a market analysis to find the “fair value” of the unit(s) you want. With that information you can make an offer.
Make your Offer
As your realtor, we will present the offer(s) to the sellers and help you in the negotiation. You will have at your service our full team of real estate professionals (financing, attorneys, etc). Any question or issue that arise we will help you resolve.
Buy the Condo:
After your offer has been accepted is time to make sure that everything is in order: inspections, legalities of the documents, etc. We have a full team of Real Estate professionals that will work in your team and make sure that you get any kind of surprises in the purchase of the condo.
Move and Live at Sole
Now that you own your condo is time to enjoy the life of downtown Ft Lauderdale. And because you are an owner you probably spend less money monthly than if you were paying rent. Plus you are building wealth. Every month you are paying off your condo.
Can I see the apartments for Sale without being Pre-approved?
No. The owners want to make sure that you are a real buyer. Also for security of the residents they don’t want people just “snooping around” the facilities or inside the apartments.
What does it means to get pre-approved?
It means that you a bank or financial institution will lend you the money for a mortgage. The amount they will lend you depends of your income and/or debt. Your mortgage advisor will let you more about the banks reach a number.
What does it means that Sole is Approved for a 3% Down?
Financing the purchase of a condo is different than purchasing a regular single family home. Many lenders do not finance condos and others require that you put 20%-25% down payment. The reason for this is that your condo ownership is dependent on the other owners in the building. They also examine the condo building and the Home Owner Association. Most of the condos in downtown Ft Lauderdale require 20% or more for down payment. A couple of new one require a 10% down.
Now and thanks to our mortgage partners, we have obtain the approval for a 97% financing.
How the 97% Financing Work?
You need to speak with our mortgage partners to discuss the details of the financing. You can fill out the application by clicking in any of the banners. You need to meet minimum requirements:
- You don’t owe any other property
- Minimum Credit Score of 620
- Building is approved (Sole is approve now!)
I want to Buy at Sole. What Do I do Now?
First please get pre-approved by our mortgage partners. You can fill out your application here or click in the banner and fill out the application. If you prefer to speak with a representative, fill out our form and we will put you in touch with them. Or click HERE to email The CloseWithUs Team at Hamilton Group Funding, Inc., a representative from their team will call you back the same day!
Let us know when you have your pre-approval letter ready so we can show you the condos available for sale.
If you plan to pay cash just call us now or fill our form and we will show you the condos available for sale. You will need a letter from your bank stating that you have the funds to buy the condo.
Mortgage Calculation for a Condo at Sole
You will have to pay also Taxes, Insurance and Homeowners association. But even with those expenses you will hardly reach the average monthly rent of $1,500 for a 1 Bedroom apartment.
Want to explore the possibility of buying your condo at Sole?
*Hamilton Group Funding, Inc. is a licensed and equal opportunity mortgage lender. NMLS ID 200719. All terms and conditions are subject to underwriting approval and subject to change without notice. This does not constitute an offer to lend. Down payment example is based on a sale price of $180,000 with 3% down. The monthly mortgage payment is based on financing $174,600, for 360 months, with a 4% interest rate, APR 4.123%; principal & interest $834. Taxes, Mortgage Insurance, Condo Insurance, and Homeowner Association fees are not included in the mortgage payment example. Payment and Interest Rate is based on estimated figures. Meeting minimum requirements does not qualify all borrowers. Contact The CloseWithUs Team at Hamilton Group Funding, Inc. Branch NMLS ID 381561 for more details.