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.

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