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Infinity Condos Get Fannie Mae Approval

MIAMI-The move allows buyers to seek financing at higher LTV ratios and better interest rates.

By Carl Cronan | Updated on May 18, 2009

MIAMI-The 52-story Infinity at Brickell condominium tower has received approval by the Federal National Mortgage Association, according to its developer, the DYL Group. The approval allows condo buyers to seek financing with the institution of their choice at higher loan-to-value ratios and better interest rates.

Few projects in South Florida have been able to obtain Fannie Mae approval because of strict requirements including sponsorship by a lender and a rigorous application process, DYL stated. The review includes a top-down analysis of both the project and developer to ensure that the project’s financial backing is strong enough to make it successful.

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