Condotel Loans in Florida is Back
Writing Condotel loans is a big part of my mortgage business. I specialize in Condotel Loans in Florida. Condo Hotels are great investments for those seeking to purchase a vacation home. During the period where you do not use your Condo Hotel, you can lease it out daily, weekly, or monthly at prime prices which will generate substantial revenues.
Condotel as income properties
Some folks have their Condotel loans and expenses covered by the rental income they receive in renting their Condo Hotels. Others make positive cash flows and have a free place to stay whenever they like to vacation to Florida where they own their Condo Hotel. Folks who have a Condotel and are generating positive cash flow are more than eager to purchase another Condo Hotel or more to generate more income. Unfortunately, there are not too many Condotel Lenders in the state of Florida or Condotel Mortgage Lenders nationwide who are open minded in financing a Condo Hotel no matter how financially strong a borrower is. The good news is that I am able to help you obtain, secure, and close on your Condo Hotel Purchase Loan and your Condotel Loans in 21 days or less. If you only own a personal residence, I can classify your new Condo Hotel as a second home. If you do not own a home and rent and are purchasing your Condotel and that Condotel is your only property, I can have it classified as an owner occupied Condo Hotel which will qualify you for lower rates. If you own more than two properties, your new Condotel purchase would be classified as an investment Condo Hotel.
Condotel Cash-Out Refinance Mortgages
If you currently own a Condo Hotel that is free and clear (without a Condotel Loans ), and you want to do a cashout refinance, I can help your refinance your Condotel. On Condotel loans that a borrower might need a cashout refinance, I can get you a 75% Loan to Value Condotel Loans if your Condotel Loans is a primary, secondary, or vacation home. Lower Loan to Value restrictions apply if it is an investment Condo Hotel unit.
For those interested in investing in a Condo Hotel in Florida, please contact me at 262-716-8151 or email me at email@example.com. I am available 7 days a week for a free consultation. If you have a Condo Hotel in mind, you can apply at www.gustancho.com and click on the APPLY NOW icon.