Condo financing with less than 50% owned units is available at BBVA (bank portfolio) if you are within the occupational groups such as MD's, Dentistâ€™s, CPAâ€™s, Attorneyâ€™s, you can certainly obtain a 100% loan, NO MI, No prepay penalty, very low rate and the credit score required is 650 min.
The agents in my various Real Estate Offices have had recent success with a Senior Mortgage Officer / Tom R. Callahan / email@example.com
My sources report that the bank is still offering this special Professional type loan program and has NO intention of suspending it.
It is apparently great for building bank business accounts.
See below a recent example from a top producing agent of mine.
â€œClient just closed last week at 4.875%, 30 yr, no penalties, 1pt , NO MI , NO cash down. Seller even paid all his cost including taxes, etc.â€
And 5/1 arm is around 4.250% from what I am told.
Another agent shared this morning that her client is getting a great deal on a 30 yr fixed, loan of $995k at 4.875%~, which is huge for what they call â€œJumboâ€ money.
It is a wonderful program and I as a Real Estate Broker have received several referrals from prior clients because of this program alone, as they see us as the advocate with expert advice on it.
So they in turn refer their Doctor colleagues and Professionalâ€™s to my agents and Tom Callahan does an excellent job with customer service. It's Great !!!
Good luck to you, Tracey