{"id":11838,"date":"2019-08-23T19:31:01","date_gmt":"2019-08-24T02:31:01","guid":{"rendered":"https:\/\/yess.leadpress.com\/hotel-financing\/"},"modified":"2020-08-18T13:12:11","modified_gmt":"2020-08-18T17:12:11","slug":"hotel-financing","status":"publish","type":"post","link":"https:\/\/mortgagedepot.com\/hotel-financing\/","title":{"rendered":"Hotel Financing"},"content":{"rendered":"<p>When the time comes to finance the acquisition or expansion of a hotel, members of the hospitality industry turn to <a href=\"https:\/\/mortgagedepot.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">MortgageDepot<\/a>. Our commitment to providing superior service and accommodating the needs of our clients makes us the mortgage broker hotel owners choose when they need money for a project. We have <a href=\"https:\/\/mortgagedepot.com\/loan-officers\/\" target=\"_blank\" rel=\"noopener noreferrer\">loan officers<\/a> with years of experience arranging financing for hotels, motels and rooming houses. They understand the unique challenges of the hotel industry and find solutions to overcome them.<\/p>\n<p><strong>A mortgage program for buying or refinancing<\/strong><\/p>\n<p>Whether someone is in the market to <a href=\"https:\/\/mortgagedepot.com\/purchase-loan-programs\/\" target=\"_blank\" rel=\"noopener noreferrer\">purchase<\/a> a new hotel property or needs to <a href=\"https:\/\/mortgagedepot.com\/refinance-loan-options\/\" target=\"_blank\" rel=\"noopener noreferrer\">refinance<\/a> an existing property, we work with them to finding the financing option and lender best suited to their needs. A MortgageDepot hotel financing expert helps clients find a lender and loan program that meets their objectives.<\/p>\n<p>We guide borrowers through the application, underwriting and approval of the loan. Our dedication to client satisfaction does not end with a loan commitment. A loan officer closely works with all parties to get the loan closed as quickly as possible, so our borrowers can put their financing to good use.<\/p>\n<p><strong>Details of our hotel financing program<\/strong><\/p>\n<p>Loans are available for acquisitions and refinancing of hotels, rooming houses and motels. Other details of the financing include:<\/p>\n<ul>\n<li>Maximum loan-to-value ratio is 65% for funding toward a purchase and 60% for refinancing an existing property.<\/li>\n<li>Maximum loan amount is $3 million.<\/li>\n<li>Interest-only financing is available.<\/li>\n<li>Loan options include 5\/1 or 7\/1 ARMs and 30-year amortized payments.<\/li>\n<li>Only non-NMLS brokers and commercial brokers accepted.<\/li>\n<li>Licensing requirements may vary from one state to another.<\/li>\n<\/ul>\n<p>Borrower\u2019s income is calculated using a 12-month average of the most recent year\u2019s net operating income. The following documentation is also required for underwriting purposes:<\/p>\n<ul>\n<li>Articles of incorporation with stock certificates for corporations and articles of organization and operating agreements for other forms of business.<\/li>\n<li>Business banking statements for the most recent three-month period.<\/li>\n<li>Profit and loss statement.<\/li>\n<li>Pro forma spreadsheet.<\/li>\n<li>Narrative business plan.<\/li>\n<\/ul>\n<p>One of our loan officers will gladly work with borrowers and their staff to meet lender underwriting requirements.<\/p>\n<p><strong>Contact MortgageDepot<\/strong><\/p>\n<p>Call MortgageDepot today at (800) 220-LOAN to learn more about our hotel lending program. One of our loan officers is always available to show borrowers how MortgageDepot has a <a href=\"https:\/\/mortgagedepot.com\/loan-programs\/\" target=\"_blank\" rel=\"noopener noreferrer\">loan program<\/a> for everyone.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When the time comes to finance the acquisition or expansion of a hotel, members of the hospitality industry turn to MortgageDepot. Our&#8230;<\/p>\n","protected":false},"author":70,"featured_media":16308,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[155],"tags":[135],"_links":{"self":[{"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/posts\/11838"}],"collection":[{"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/users\/70"}],"replies":[{"embeddable":true,"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/comments?post=11838"}],"version-history":[{"count":0,"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/posts\/11838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/media\/16308"}],"wp:attachment":[{"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/media?parent=11838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/categories?post=11838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mortgagedepot.com\/wp-json\/wp\/v2\/tags?post=11838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}