Your Trusted Partner
in Mortgage Financing
Purchasing a Home or Investment property can be an exciting and intricate experience.
We are here to guide you every step of the way.
About Us
ABCO Mortgage
We are committed to helping individuals, families, and businesses achieve their real estate goals. With expertise in residential home lending, investment property financing, and commercial lending, we pride ourselves on being a trusted partner throughout the mortgage process.
Our team brings years of experience and a deep understanding of the ever-changing real estate and financial markets. We specialize in crafting customized loan solutions that meet the unique needs of each client, whether it’s purchasing a dream home, growing an investment portfolio, or securing funding for a commercial venture.
Based in the heart of Coral Gables, FL, we have built strong relationships with lenders and a reputation for delivering results with speed, efficiency, and personalized care. At ABCO Mortgage, our goal is to simplify the lending process while ensuring you have the support and guidance needed every step of the way.
Let us help you turn your vision into reality with tailored mortgage solutions designed to help you succeed.
Programs
Conventional
- Down Payment Options: Typically, down payments start at 3% for primary residences, 10% down payment for second homes and 15% down payment for investment properties. Larger down payments can eliminate the need for private mortgage insurance (PMI) and improve pricing.
- Credit Requirements: Borrowers usually need a credit score of at least 620 for primary occpancy and 660 for investment, with higher scores leading to better terms and rates.
- Loan Limits: Loan amounts must fall within conforming loan limits set by the Federal Housing Finance Agency (FHFA). Loans exceeding these limits are considered jumbo loans.
- Private Mortgage Insurance (PMI): Required for down payments below 20%, but it can be removed once the loan-to-value ratio reaches 80%.
FHA
- Low Down Payment: Borrowers can purchase a home with as little as 3.5% down, making it easier to save for a home.
- Flexible Credit Requirements: FHA loans are more forgiving of lower credit scores, typically allowing scores as low as 580 (or even lower with a larger down payment).
- Competitive Interest Rates: FHA loans often offer competitive rates compared to conventional loans.
Commercial Loans
- Property Types: Used for income-generating properties or owner-occupied businesses.
- Loan Terms: Typically shorter than residential loans, with terms ranging from 5 to 20 years, and may include balloon payments.
- Down Payments: Usually require higher down payments, typically 20%-30% or more.
- Interest Rates: Rates are generally higher than residential loans and can be fixed or adjustable.
- Qualifying Criteria: Focuses on the borrower’s creditworthiness and the property’s income potential (via metrics like Debt Service Coverage Ratio, or DSCR).
- Loan Types: Options include traditional bank loans, SBA loans (for small businesses), bridge loans, and private or hard money loans.
Non-QM Loans (Non-Qualified Mortgages)
- Borrower Flexibility: Ideal for self-employed individuals, investors, or those with irregular income streams who may struggle to qualify for traditional loans.
- Alternative Income Verification: Allows for bank statement programs, asset-based qualification, or other non-traditional methods to verify income.
- Credit Profile: Often accommodates lower credit scores or recent credit events like bankruptcy or foreclosure.
- Loan Terms: Typically offer fixed or adjustable-rate options with higher interest rates compared to QM loans.
- Property Types: Can be used for primary residences, investment properties, or non-traditional property types.
Jumbo Mortgage Loans
- Loan Amounts: Exceeds the conforming limits, which vary by region (e.g., $806,500 in most areas for 2025, higher in high-cost areas).
- Down Payments: Typically require larger down payments, often starting at 10%-20%.
- Interest Rates: Rates are slightly higher than conventional loans due to increased lender risk.
- Credit Requirements: Borrowers usually need strong credit (minimum scores of 680+ are common).
- Income and Asset Documentation: Requires comprehensive verification of income, assets, and debt-to-income (DTI) ratio.
Down Payment Assistance (DPA) for Mortgages
- Types of Assistance:
• Grants: Non-repayable funds to assist with down payments or closing costs.
• Loans: Low-interest or deferred-payment loans that must be repaid under specific terms. - Eligibility Requirements:
• Income limits based on area median income (AMI).
• Purchase price limits.
• Must typically use the home as a primary residence. - Availability:
Programs are offered by state and local governments, non-profits, and housing agencies.
Lourdes Fortun
Vice President | Loan Originator
Born and raised in Miami, I bring a lifetime of local knowledge and over 20 years of experience in the mortgage industry to my work. As a seasoned professional in the Florida market, I have excelled as both a loan processor and loan originator, specializing in residential and commercial financing.
My deep roots in the community, combined with a strong understanding of the local real estate landscape, enable me to provide clients with tailored solutions that meet their unique needs. Whether helping families secure their dream home or assisting businesses with complex commercial transactions, I am dedicated to delivering seamless, personalized service with integrity and professionalism.