Fidelity Home Group is here to help you find the financing for your home purchase or refinance that’s best for you—whether you’re just starting out, tired of renting or adding an investment property in Florida. With free pre-approvals, you can search for your new home knowing all of your options, and our selection of specialty loan programs and in-house mortgage experts means your home loan is personalized to your individual needs and budget. 

Condominiums are classified as Warrantable, Non-Warrantable or a Condotel. Condos are a single, individually-owned housing unit in a multi-unit building. The condominium owner holds sole title to the unit, but owns land and common property (elevators, halls, roof, stairs, etc.) jointly with other unit owners, and shares the upkeep expenses on the common-property with them. Unit owner pays property taxes only on his or her unit, and may mortgage, rent, or sell it just like any other personal property.

• Minimum credit score 660
• Must be an Investment Property
• Minimum down payment of 20% for Single Family Homes and Warrantable Condos
• Minimum down payment of 25% for Non-Warrantable Condos
• Minimum down payment of 30% for & Condotels and 5 to 8 unit properties
• Maximum of 75% loan to value for refinances
• Must have 6 months of monthly payment reserves

What is the appeal of a DSCR loan?

One of the big benefits of a DSCR loan is that a personal income Is not required. We are interested in the cash flow the subject property is calculated to generate.

Fidelity Home Group Florida DSCR Loan features:

• No leases are required to be listed
• No lease required if not rented
• Available for purchases and cash-out or rate-term refinance
• No limit on total number of properties
• Maximum loan amount $5 million
• No personal income used to qualify
• Qualifications based on property cash flow
• Condotels and Non-Warrantable Condos are eligible
• 40 year fixed interest only available
• Properties can be in LLC’s name
• Minimum Debt Service Coverage Ratio of .75%