Leaseholds allowed if remaining term on land lease is 30 years or longer. Leases with 15 years or more remaining allowed for investment properties only
- Structural deficiencies and certain pending litigation
- Incomplete construction of the subject phase
- Low HOA budget reserves – HOA delinquencies exceeding 15%
- Condo Questionnaire must be 100% complete for Approval Commitment. No blanks or questions answered “n/a” or “unknown,” and questionnaire must pass underwriter review.
- Condotels with <500 square feet allowed at a max 70% LTV
- Coinsurance is considered case-by-case if no agreed amount endorsement is available
- Condotels with kitchenettes allowed on a case-by-case basis
A Condo unit as a Condotel when units in the complex can be reserved for daily, weekly or short-term rentals.
Currently, the condotel purchase market in South Beach, Panama City, Palm Beach and Miami is trending upward with the economy. Several other Florida cities are in prime season for buying. Take advantage of the market and discuss financing for your Florida condotel with Fidelity Home Group headquartered in Orlando, Florida!
Fidelity Home Group has experienced mortgage experts who are experts in the field of Florida Condotel Mortgages. We offer top tier technology, competitive interest rates, and a commitment to help you achieve your dream of homeownership. We can be contacted several ways to help answer any questions you may have:
Call or text us at 407-955-4575
Email us at moc.puorgemohytiledif@olleh