Inability to Pay Rent and Loans Now Affecting Banks

Written by Florida Condotel Mortrgage on November 24, 2020. Posted in Florida Condotel Mortgage.

Small community banks dependent on commercial RE and small biz loans feel added stress from COVID-19; 2 banks failed in Oct., including 1 in Fort Walton Beach. #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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