FHA Mortgage Delinquencies Reach a Record

Written by Florida Condotel Mortrgage on August 25, 2020. Posted in Florida Condotel Mortgage.

The share of late FHA loans rose to almost 16% in 2Q, up from 9.7% the previous quarter – the highest level since at least 1979. For conventional loans, the rate is 6.7%. #floridacondotels #floridacondotelmortgage #floridacondotelfinancing

#floridacondotels #floridacondotelmortgage #floridacondotelfinancing

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Rates posted assumes 25% down payment, and an ARM and fixed rate first mortgage on a Florida condotel, secondary 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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