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    Downing Frye Realty, Inc. 8950 Fontana Del Sol Way STE 100, Naples FL 34109
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CDF Lake3
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CDF19 Master
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Friday, 01 February 2019 16:41

We’re FHA and Fannie Mae Approved!

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