Whether you are looking to lower your interest rate, shorten the duration of your loan, or cash-out some of the equity you've accumulated over the years, Luxury Mortgage is here to assist you with your condo refinancing needs. We offer a variety of conventional loans, government backed FHA and VA mortgages, and jumbo condominium refinance solutions to meet the needs of our diverse clientele. To learn more about our condo refinance programs, please call (888) 379-0303 for a free consultation.
Luxury Mortgage offers some of the most competitive mortgage rates in the marketplace for refinancing condominiums. Underwriting requirements for condo financing can be more extensive then stand-alone stick built construction. In order to provide consumers with the most accurate quote available, we advise speaking with a licensed Luxury Mortgage professional. He or she will ask a series of questions about your scenario. The type of occupany being held, the number of stories in the development, the percentage of units which are owner-occupied vs. rentals, and the extent of master liability insurance coverage, are all examples of variables which may impact rates and approval (other terms and conditions will apply). For FHA refinances, units must be in approved FHA developments.
When you are planning to refinance we strongly encourage you to identify and reach out to your HOA management company to find out who your contact is for completing a Condo Questionnaire and requesting proof of master liability insurance coverage. Most mortgage refinance rate locks last for 30-60 days depending upon your agreement. Borrowers having to track down their HOA contacts weeks in to the process can lead to issues down the road.