For those of you who have been asking: “Is Sonata Beach Club Condo Fannie Mae approved?”, the answer is “yes”. As of this Monday, Sonata Beach Club Condo now meets the Federal lending criteria for Fannie Mae Approval!
What this means is that you’re now able to use any Lender of your choice for a purchase in Sonata Beach Club instead of being limited to the one local Bank, Florida Shores, that was previously the only one Financing purchases in Sonata Beach Club (to facilitate Financing of purchases prior to their Fannie Mae approval, Sonata Beach Club was able to secure Florida Shores Bank as a private source of lending for Buyers, which was a significant benefit). While Florida Shores continues to do a great job with Financing purchases in Sonata Beach Club, not having the choice to select other Banks for Financing was considered to be a drawback for some Buyers.
Buyers in Sonata Beach Club have included a mix of Cash Buyers and those who financed their purchases.
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