The Plaza at Oceanside Pompano Beach Condo is now Fannie Mae Approved. What this means is that purchases in the Building can now be Financed instead of purchases being restricted to Cash Buyers only, which was previously the case since the Building didn’t yet meet Lender’s criteria for Financing. Oceanside is offering Financing at great rates through an in-house Lender and Buyers can also use Lenders of their own choice.
In our local Condo Market, approximately 80% of sales are Cash instead of Financed. Additionally, sales in the current market are the highest that they’ve been in 5 Years and are continuing to increase, despite Lending restrictions, however, it’s obviously beneficial that Buyers can now obtain Loans for purchases in the Building.
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