Panama City Beach Real Estate Market Conditions
Panama City Beach Real Estate Information | Market Conditions | Boating and Fishing

Hi folks,
It looks like the lending climate may be improving for condo market here in Panama City Beach, FL. We recently received correspondence from a lender that included a list of “Approved” condos.

* Please note this information is from one particular lender. We have several that we work with that are financing condos.

What does this mean? Condos on the “Approved List” are NOT classified as condo-hotels. As a result the financing terms are better.

For example, if a project is on the approved list, then:
Second Homes borrowers will be required to put 10% down
Investment property requires 15% down.

I think for a primary residence as little as 5% or 10% down.

That said if a project is not on the list a condo unit may still be eligible for financing via “Limited Review”.

The guidelines are:
Primary Residence- Borrower can put as little as 10% down
Second Home- Borrower will need to put 25% down
Investment Property- No Limited Review Available

Approved Condo List

Bay Point Villas
Celadon Beach
Dunes of Panama
Emerald Beach
Emerald Isle
Grand Panama Phase I
Grand View East
Gulf Crest
Hibuscus By the Bay
Hombre Golf Village
Horizon South
Inn @ Seacrest
LinkSide at Grand Heron
Ocean Villa
Palazzo
Peachtree Place
Pelican Walk
Plaza at St Thomas Square
Reflections
Shores of Panama
Sterling Reef
Summerhouse
Sunrise
Sunrise Beach
Twin Palms
WaterCrest

As you have probably guessed this whole condo lending thing is VERY dynamic and changes frequently. Hopefully it will keep improving!

Of course as always we are here for you. Don’t hesitate to contact us with any questions you might have. If we can’t answer your questions directly, we’ll do our best to get you the answers or point you to the resources that might help you.

Have a GREAT day!
Mike and Vivian Foate

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SEE ALL WATERFRONT CONDOS FOR SALE!

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MIKE’S CELL: 850-596-4236
VIVIAN’S CELL: 850-814-2372
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Mike and Vivian Foate-REALTORS®
Prudential Shimmering Sands Realty, Inc.
400 S. Hwy 79
Panama City Beach, FL 32413

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