enfrdeptes
    Downing Frye Realty, Inc. 8950 Fontana Del Sol Way STE 100, Naples FL 34109

Displaying items by tag: fannie mae approved

If you are shopping for a condo home, consider the following reasons to choose a new condo versus a resale…

  1. Who doesn’t love a fresh, new, never lived in home?
  2. New means there are no grungy corners, cracked caulk, smudges and dents on walls, cracked tile, or used and out-of-warranty appliances to deal with. In fact, new condos at Casa di Fiori come with a builder’s warranty.
  3. The new condos at Casa di Fiori also have updated interior designs with wood cabinetry, granite counter tops, stainless steel appliances and 18” – 20” tile laid on the diagonal.
At Casa di Fiori, discover great NEW condo homes with:
  • Split floor plans with 2 bedrooms plus den OR 3 bedrooms with screened lanais
  • Lake, preserve or privacy views
  • Enclosed single-car garage plus additional outdoor parking space
  • Great amenities including clubhouse, fitness center, resort style pool, tennis and bocce courts, playground, and BBQ picnic areas complete with gas grills and fire pit
  • A lush, park-like, community setting located in northeast Cape Coral close to popular dining, shopping and recreation
  • Low HOA and NO CDD fees
  • FHA & Fannie Mae Approved
Published in Casa Di Fiori News

Casa di Fiori is one of only a few condo communities in Lee County that is FHA and Fannie Mae approved.

Fannie Mae approval of a condo community allows buyers to purchase their home using a conventional mortgage while FHA insured loans have other aspects that some home buyers find helpful. In either case, Casa di Fiori’s move-in ready condo homes qualify.

Obtaining these approvals is a privilege, not a requirement, which is why there are very few condominium communities in the local area with this status. Among the various qualifications, approval requires the community to demonstrate sufficient reserves in the HOA budget, more than 50% of the community must be owner occupied, and the HOA Board members and property managers are expected to maintain property values in the community.

These aspects plus other steps taken by Casa di Fiori to obtain and maintain Fannie Mae and FHA approval should be considered a benefit for home buyers as it demonstrates that the Casa di Fiori developers and HOA Board care about the community and want it to thrive.

See links below for more information…

https://entp.hud.gov/idapp/html/condlook.cfm

https://www.fanniemae.com/singlefamily/project-eligibility-review-service

Published in Casa Di Fiori News