Very Important Condo Changes
There are a lot of changes to condo requirements. Below is the link for the condo changes. To summarize it, if you are buying a condo in Florida that is new or a new conversion it is going to be very hard to get financing. With established condos you will have to have “walls in” insurance coverage (separate interior policy), must be at least 51% owner occupied, cannot have more than 15% in delinquent dues, must have Fidelity Bond coverage, and loan to value changes.