We now have an expanding collection of banks offering to lend on garage condominiums. Yes, through our vast connected networks, we are excited to announce our list of “progressive” lenders.
The typical deal structure is as follows:
- $5,000.00 Reservation Fee to hold a garage condo
- 50% Down Payment due at signing of Purchase Agreement (at Ground Breaking)
- 20% Payment due once foundation is poured
- 20% Payment due once unit (building) is dried-in (roof & walls)
- Balance due at Certificate of Occupancy (closing)
For more details on financing a garage condo please contact one of our preferred lenders today.