Available 7 Days/Week       MON - FRI  8am - 7pm       SAT - SUN  10am – 6pm
Call us (888) 259-2257
Apply Now

Condo questions: Can reserve funds pay for increased insurance premiums? (FL)

Q: Our condominium insurance premiums have been fairly steady for a number of years, but we were recently forced to switch carriers and the new policy will cost six figures more than our prior policy. There are no better insurance options and hurricane season is fast approaching. Can we use reserve funds to pay for the insurance premium to make sure coverage continues or as an emergency?    Read the Q&A………………………………….

https://communityassociations.net/category/fl_news/feed/

Florida Condo & HOA News, https://communityassociations.net/category/fl_news/feed/, Insurance - General, National Condo & HOA News, Reserves

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
 
Copyright © 2021 Fidelity Home Group supports Equal Housing Opportunity | All Right Reserved  | NMLS Identifier 1834853. Fidelity Home Group is not affiliated with the Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA). Not intended for legal or financial advice, consult your own professionals if such advice is sought. Accessibility Statement  | Consent to Receive Electronic Loan Documents  |  Cookies Policy   |  Disclosures  | Email and Mobile PolicyFair Lending Policy  |  Mortgage Assumptions  |  NMLS Consumer Access  |  Privacy Policy  |  Terms of Use