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Category: Florida Condotel Mortgage

At Fidelity Home Group, we are condotel mortgage experts in Florida! The Condotel also known as the Condo Hotel is quickly becoming popular in Florida as an investment opportunity. Various Condotel Projects are popping up in South Beach, Panama City, Palm Beach and Miami.

Condominium Bylaws regulate board authority (FL)

I currently live in a condominium managed by a developer, but they seem to be doing the best for the owner. Some unit owners want to make changes to the building, from painting the walls in  different colors to hiring more expensive cleaning services. They suggest that these changes bring a “small” special rating to all unit owners. The more “small” changes, the higher the maintenance fee is obviously. What is Florida’s law regarding imposing a large number of small special assessments without the unit owner’s   vote?    Read the Q&A…………………………………. ...

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2021 Florida Community Association Legislative Update

Another big year for legislation impacting Florida’s community associations. Now is the time for associations to contact their attorneys for guidance. The following items will become law on July 1, 2021, unless vetoed by the Governor. Following is a summary of the highlights. For complete coverage, please click on the various links below to see the bill’s entire text:    Read the entire article………………………………. #floridacondotelmortgage #floridacondotelfinancing #floridacondotel

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Florida Governor Signs CS/HB 463, Amending COVID Restrictions for Community Association Pools

Earlier this month, Florida Governor Ron DeSantis signed almost 30 bills into law. Among them was CS/HB 463 Community Association Pools, which takes effect July 1, 2021 and will ease restrictions on certain swimming pools serving community associations throughout the state. Read the entire article………………………………. #floridacondotelmortgage #floridacondotelfinancing #floridacondotel

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HUD Restores ‘Affirmatively Furthering Fair Housing’ Requirement

The rule suggests it’s not enough for communities to simply avoid blatant discrimination – they should also take affirmative action to further Fair Housing Act goals. The interim rule, effective July 31, reinstates fair housing goals first established in 2015. #floridacondotels #floridacondotelmortgage #floridacondotelfinancing

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Rates posted assumes 25% down payment, and an ARM rate first mortgage on a Florida condotel, primary residence. Additional required amounts such as taxes, insurance, home owner association dues, assessments, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. **Posted APR is based on Mortgage Assumptions
 
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