The Real Deal Miami

70 Florida condos now Fannie Mae-approved

February 24, 2010 02:10PM

Seventy Florida condominiums, including Miami’s the Grand Condominium at 1717 N. Bayshore Drive in Miami and Latitude on the River at 185 S.W. 7th Street, have made Fannie Mae’s list of buildings receiving special loan approvals. All 70 are in Miami-Dade County but for one in Jupiter County (see the full list below). With the designation, lenders can originate and deliver mortgage loans in the buildings to Fannie Mae. In the coming weeks, the government-backed mortgage company is expected to approve other projects in Broward and Palm Beach counties. Fannie Mae has been zeroing in on Florida’s sluggish condo sales market, hoping that by relaxing its regulations for some projects, condo buyers will once again be able to obtain mortgages.Fannie Mae Approved Condos