Condo Loan Programs

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Whether you are buying a condo as your primary residence, second home, or investment property, we likely have the mortgage program to meet your needs. Not only do we offer conventional mortgage products, we also provide low and no money down solutions such as FHA and VA loans.

At Luxury Mortgage Corp., we’re well known for jumbo and super-jumbo loan financing. We have great fixed-rate and adjustable-rate products for higher-end loan amounts. Our jumbo loan pricing for financing condominiums is some of the most competitive in the industry.

We also offer condo refinancing assistance for those looking to lower their interest rates, perform cash-out refinances, or simply shorten the duration on their repayment periods (i.e. going from a 30 year to 15 year amortization). Borrowers who already have an FHA or VA loan may be able to capitalize on streamline refinances which eliminates many of the costs associated with traditional refinancing.

Why Consider a Condo?

• Affordability: Many home buyers seek out condo ownership due to the cost of stand-alone construction in their areas. Condos are often smaller in size than homes containing comparable numbers of bedrooms and baths. Couple that with fact that condos often share many building elements (walls, roofing, etc) and the result is typically a lower price point due to lower construction costs.
• Low Maintenance: One of the biggest perks to living in a condo is the amount of work paid for through Property Owners Association dues (aka POA). POA fees often cover items such as insurance for the exterior of the builing, landscaping, pest services, and other building related maintenance such as roofing, painting, and driveway and parking lot repairs. The POA also frequently covers trash, recycling, and other city/county related services as well as the expenses associated with amenities such as swimming pools and tennis counts.
• Amenities: From clubhouses with workout centers and deluxe media rooms to swimming pools and tennis courts, many of today’s condo developments are filled with fantastic features. Expenses for building and maintaining these amenities are typically shared among condo owners.