Can I finance a condo at The Fountains at Countryside?
Short Answer
Often, yes. But with a condo, the building is reviewed along with you. Underwriting looks at the association's budget, reserves, insurance, inspection and reserve study status, litigation, and rental mix. At The Fountains at Countryside, results can differ by building. Start the condo questionnaire early. Any loan approval is conditional until all underwriting conditions are met.
Can I finance a condo at The Fountains at Countryside?
Often, but it depends on which building your unit is in. At The Fountains, separate buildings can mean separate budgets and records, and the lender reviews the one that governs your unit along with your own file.
What this looks like in Pinellas
The Fountains at Countryside is a condo community in the Countryside area of Clearwater. Each building's association documents and budget drive the project review.
Step by step
- Confirm which association governs the unit you like.
- Request that association's budget, reserve schedule, and minutes.
- Confirm age rules in writing, if any.
- Send the questionnaire to the lender as soon as it arrives.
- Line up the insurance quote for the unit interior.
At a glance
| What to confirm | Where to find it |
|---|---|
| Governing association | Declaration and listing side |
| Budget and reserves | Association manager |
| Age or leasing rules | Recorded rules and amendments |
| Building insurance | Master policy declarations |
| Pending repairs | Board minutes |
What you control and what you don't
You control how fast you request documents and which unit you choose. You don't control how quickly the manager answers or what the board decides.
Common mistakes
- Reading the wrong building's documents.
- Assuming the 55+ label is settled without proof.
- Leaving the questionnaire until the last week.
Start with the documents
Before you think about loan programs, read the association's declaration, bylaws, and rules. They tell you whether the community has an age restriction, how leasing works, what pets are allowed, and how buyer approval runs. Each of these can affect your financing and your plans.
How the building affects your loan
Every condo loan has a project review. That review asks about:
- How many units are owner-occupied versus rented.
- How many owners are behind on dues.
- Whether the association is in any lawsuits.
- The master insurance policy, including wind and flood.
- The budget and reserves.
- Recent milestone inspections and structural integrity reserve studies required under Florida law.
If the project passes a standard review, conventional financing is usually straightforward. If it doesn't, non-warrantable condo financing may still work, often with more down.
FHA and VA
For FHA, the project must be on HUD's approved list, or the unit must qualify for single-unit approval. For VA, the project must be VA approved. Check before you tour if you plan to use either.
Dues and your payment
Condo dues count in your monthly housing cost. Ask what they cover. Some cover water, trash, cable, and the master insurance. Higher dues that cover more can still work out if your own costs are lower.
Assessments
Florida's condo safety laws have led many associations to fund reserves and repairs. Ask whether a special assessment is levied or planned. A levied assessment can affect your approval, and the contract decides who pays it.
Insurance
You'll need an HO-6 policy for the inside of the unit. Ask the association for the master policy summary so your agent can quote the right coverage. If the master policy has a high hurricane deductible, owners could face an assessment after a storm.
Steps
- Read the association rules.
- Request the condo questionnaire and budget.
- Check FHA or VA approval if needed.
- Get an HO-6 quote.
- Share dues and assessment details early.
- Plan for buyer approval time.
Questions to ask
- Is there an age restriction, and how is it applied?
- Is the project approved or warrantable for my loan?
- Any assessments levied or planned?
- What do the dues include?
- How long is buyer approval?
Getting documents early
Florida law gives buyers a review period for condo documents in many resale contracts, and the seller must provide them. Don't wait for the deadline. Ask for the documents, the questionnaire, and the budget as soon as your offer is accepted, or before. The condo review for your loan uses many of the same items, so having them early saves time on both tracks.
Reading board minutes
Minutes from recent board meetings often show what's coming: roof plans, assessments, insurance changes, or disputes. They're one of the best ways to spot issues the budget alone won't show.
Second homes at The Fountains
If you plan to use the unit part of the year, a second home loan may fit, as long as the association's rules allow your plan and the project passes review. If you'll rent it, check the leasing rules first and compare investment options. Your loan has to match how you'll use the unit.
Timeline tip
Ask for the questionnaire, budget, and rules the day your offer is accepted. Send them on right away. Early documents are the single best way to keep a condo closing on time. Then share HO-6 quotes as soon as they come in, so the loan file can be finished without waiting. That habit saves days.
What to do next
Read the The Fountains at Countryside guide. Book a consult to check a building before you write.
I'm a Realtor with Realty of America, and separately I'm a Mortgage Loan Originator with PMF, Inc. Those are two separate companies, and you don't have to use both. Jonathan Loescher, Mortgage Loan Originator, NMLS# 2621894 | PMF, Inc. NMLS# 1980. This page is consumer education, not a commitment to lend. Any loan approval is conditional until all underwriting conditions are met.