Condotel Financing

MortgageDepot offers Condotel Financing services nationwide, including in Washington D.C., with a streamlined process compared to other lenders.

Key Features:

• Loans available up to $5,000,000 with cash out options
• Funding for new projects even without sold units
• Acceptance of studios, kitchenettes, lock-off rooms, and units under 500 square feet
• Loan-to-Value ratios up to 75%
• Consideration of all non-warrantability reasons except structural or construction litigation
• Gifted down payments and reserves allowed, including for investment purposes
• Cash-out refinances with no seasoning and no limit on cash received
• LLC closings available for investment units
• Insurance deficiencies taken into account*
• Approval for individuals with no credit history, expats, and foreign nationals
• Financing available for projects with timeshare units, focusing on non-timeshare units
• Condotels can be classified as primary residences, second homes, or investments
• Compatibility with other Advancial programs, including asset depletion
• Nationwide availability in all 50 states and Washington D.C.
• Pre-approvals for both clients and property complexes
• Expedited closings for urgent cases – ensuring timely loan processing

Contact us for more information about the condotel loan program, we’ll provide you with interest rates and fees as well.