Clients looking for non-traditional financing for their Condotel investment unit(s).
Unfamiliar with Condotels? A Condotel is a unique type of residential and rental property. They are typically units within a condo property that are sold to individual owners and have the amenities of a hotel. They are popular in touristy areas or where there is a high demand for hotel rooms and rental properties.
Flexible guidelines to help your clients get the financing they need for these unique types of investment properties.
Highlights:
· Owner Occupied, Second home and Non-Owner available
· Full, Alt Doc, or DSCR
· Up to 75% LTV for Purchase
· Up to 65% LTV for Rate & Term and Cash Out
· Loan amounts to $1,500,000
· Short Term Rental: Airbnb, etc. for income
Parameters:
· Min. SQFT 500
· Fully functioning kitchen
· Bedroom required
Subscribe to My Newsletter Click Here
All loan programs are subject to change or be discontinued without notice.
Not all applicants will qualify.
Call or email for details.
Comments