Condotel Financing
Expand your business to serve investment centric clients with 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.
We have 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
- Up to 65% LTV for Rate & Term and Cash Out
- Loan amounts to $1,500,000
- Short Term Rental: AirBB, etc. for income
Parameters:
- Min. SQFT 500
- Fully functioning kitchen
- Bedroom required
- Contact your AE to learn more
