850.865.9301 / denise@destin.org

ResortQuest Real Estate

Financing Your Condo Purchase

Your On-Site Waterscape Expert 
Top Listing and Selling Realtor since 2008

Contact me to Buy or Sell

Areas Serviced:

30A Florida Real Estate

Blue Mt.Beach Real Estate

Destin Florida Real Estate

Dune Allen Beach Real Estate

Ft Walton Beach Real Estate

Grayton Beach Real Estate

Inlet Beach Real Estate

Panama City Real Estate

Perdido Key Real Estate

Rosemary Beach Real Estate

Sandestin Beach Real Estate

Santa Rosa Beach Real Estate

Seacrest Beach Real Estate

Seagrove Beach Real Estate

Seaside Florida Real Estate

South Walton Real Estate

Watercolor Real Estate


Financing your Waterscape condo purchase is an important part of the buying process. Plan on loan financing taking 30-45 days.  Be prepared to put down 20-30% down payment.

Waterscape is considered a "condotel" by many lenders and special financing considerations are presented. Condotels are considered a condominium with a front desk for check in, check out purposes and offering daily or weekly rentals. Waterscape's homeowner's association has transitioned from developer to homeowner control as of April 30, 2010 which has been favorable to financing.

Condo financing for Florida beach condominiums, while not an absolute, is an easier process with a local area lender where the condo is located.  Here at Waterscape, purchasers have used the following recommended local lenders.

You can get prequalified over the phone or by email by all of them. Please note that if you are contemplating purchasing a short sale (seller's lender must approve the offer), a preapproval letter from your lender is required to present at time of offer- if you do not intend to make a cash purchase.


 1. Northpointe Bank:

     Theri Isaacs, Sr. Loan Officer



      Miramar Beach Fl 32550

 2. Cadence Bank:

      Dean Carrier


      Loan Originator 


 3. Community Bank:

      Contact Linnette Wolfgram



      12590 Emerald Coast Pkwy. 

      Miramar Beach, FL 32550

 4. Gulf Coast Bank:
      Contact Kristen Pope
      Mortgage Loan Originator
      850-585-3335 cell
      850-654-1994 ofc

      12889 Emerald Coast Pkwy.

      Destin, Fl 32550 


 1. Beach to Bayou

      Property Inspections:

      Contact J.D. Johnson

      866.830.8686 toll free

      850.231.3313 office

      Order An Inspection



      FABI Registered Professional 

      Inspector #RPI-0485


 2. Norris Home Inspections

     Shawn Norris





 1. Affordable Insurance Agency:

      Contact 850.654.1567

 2. Fisher Brown Agency:

      Contact 850.837.6138

 3. Harris Insurance:

      Contact 850.244.2111

 4. Waterfield & Associates:

      Contact 850.837.6242

 5. Allstate -Ryland-Morrow:

      Contact 850.650.5433

The Loan Process

Once you have made the decision to pursue applying for a mortgage loan -your Mortgage Loan Originator will work with you to obtain the necessary documentation required for a loan decision to be made.


You should get an Inspection prior to closing
A pre-purchase inspection, performed by a professional, is a visual examination of the readily-accessible areas of a condo to provide an accurate evaluation of the condo's condition at the inspection. This evaluation is presented to the buyer in a comprehensive report so buyers are fully informed of the condition prior to purchase. While an inspection is not required, it is highly recommended.


Below is a summary of the mortgage loan process so that you will have a better understanding of what you can expect:


1 - Condo-buyer
  • Contact loan originator for financing information
  • Gather information needed for your application (i.e. tax returns, pay stubs, etc.)
  • Begin the search for your new condo by contacting your Realtor

2 - Mortgage Loan Originator
  • Assists you in completing the loan application
  • Discusses qualifying, monthly payments and cash needed for closing
  • Explains various loan programs available and quotes interest rates
  • Communicates documentation requirements
  • Answers any questions you may have throughout the process

3 - Processor
  • Communicates with you on items necessary for your loan closing
  • Pre-underwrites and prepares loan for approval
  • Works with all parties involved with the loan process

4 - Underwriter
  • Renders final decision on your loan
  • Requests any additional documentation needed from you
  • Works directly with loan originator and processor to approve your loan

5 - Closer
  • Assembles package for your closing day
  • Sends package to the closing agent’s office

6 - Closing Attorney or Closing Agent 
  • Contacts you for your Home Owner’s insurance information
  • Prepares Settlement Statement and e-mails to the processor for review
  • Processor contacts you to review the settlement figures and cash for closing prior to closing

7 - Closing
  • Takes place at closing agent’s office, unless other arrangements have been made. Most condo closings are by overnight mail.
  • Have a certified check ready at closing and any other documentation required by lender or closing agent
  • Bring Homeowner’s Insurance with paid receipt for one year
  • CONGRATULATIONS on your purchase or refinance!

Understanding the New Government Regulations for Mortgages – information to help you understand the new Government Regulations for Mortgages and how they impact the loan process.