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NO DOC MORTGAGE
Florida Mortgage Corporation offers a NO DOC mortgage program with basically a completed "BLANK" mortgage application. This means the applicant or borrower does NOT disclose any of the following information on the mortgage application.
If you are UNABLE to meet the above "down payment" requirements, we offer a combination mortgage program that only requires a minimum 10% down payment. Please visit: http://www.floridamortgagecorp.com/combomortgage.htm
This type of investment income property is for commercial use as hotels, that require special licensing from the State of Florida.
Unfortunately, the Orlando & Miami real estate market is currently "saturated" with this type of investment income property, with many being sold at "distressed" prices. Furthermore, the Orlando & Miami real estate market is experiencing serious declining market values due to a high number of foreclosures.
The investment property's use is determined by local county zoning laws, Homeowner's Association community guidelines, etc. A Condo-Hotel home can only be located in a community that is legally zoned and allows the investment income property to be used for commercial use.
Please visit the following links for additional detailed information:
SHORT-TERM RENTAL HOME ▪ CONDO HOTEL ▪ DECLINING MARKET VALUE ▪ PROPERTY TYPES
NOTE: Interest rates and mortgage programs subject to change without prior notice. |
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