Watson Mortgage Corp. is designed to help our customers realize the dream of home ownership.
We are a direct and local lender with the ability to control all steps in the loan process from application to closing. Enjoy the comfort of buying and financing your home the Watson Way!

Condo Financing?

Condos have their own process of being approved for financing, and there are not many condos that are approved for financing in Jacksonville. Below are the links that you will check to see if a condo is approved for financing. Depending on which type of financing that you are using for your loan would be the link that you will see if the condo if approved.

If you want a FHA loan, then click on the below link to see if the condo is eligible for FHA financing:

FHA Financing

If you want a VA loan, then click on the below link to see if the condo is eligible for VA financing:

VA Financing

If you want a CONVENTIONAL loan, then click on the below link to see if the condo is eligible for CONVENTIONAL financing:

CONV Financing

IF THE CONDO IS NOT ON A LIST AND YOU WANT FINANCING

The condo might already be approved for financing. Email me the name of the condo and I can let you know if it is approved before we do the below steps.

If the condo is not on one of the above approved lists, then there is an additional process to go through to see if you can get financing on the condo.

1) Email me a copy of the condo questionnaire

2) Email me a copy of the master insurance policy

I will send the questionnaire and insurance to the underwriter and I will let you know if the condo is approved for financing.

20% down for purchases with a 680 credit score up to $1,250,000 loan amount

40% down if the unit is 500 to 749 square feet or if the unit doesn’t have a full kitchen (full size refrigerator, stove/oven, and sink)


INELIGIBLE CONDOS FOR ANY TYPE OF FINANCING

  • The condo is managed by a national hotel chain
  • The condo is required to participate in a rental pool
  • The condo contains timeshare or fractional units
  • The condo is in active litigation
  • The condo has less than 80% SOLD and 40% CLOSED
  • The condo is less than 500 square feet
  • The developer has control of the homeowner’s association