Condotel Loans Florida

Condotel Loans Florida With 25% Down Payment For Second Homes

Gustan Cho Associates are mortgage brokers licensed in 48 states

This Article On Condotel Loans Florida With 25% Down Payment

Condotel Loans Florida is a big part of our business at Gustan Cho Associates.

  • I specialize in Condotel Loans 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

In this article, we will discuss and cover the down payment requirement on condotel purchase loans.

Condotel As Income Properties
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 Condo Hotel Purchase Loan
  • Most Condotel Loans close in 21 days or less
  • Homeowners who own a personal residence, the new Condo-Hotel unit can be classified as a second home which requires 25% down payment
  • Condotel unit buyers do not own a home and rent and are purchasing the Condotel and that Condotel is the only property that can have it classified as an owner-occupied Condo-Hotel unit
  • Owner occupant condotel financing has lower mortgage rates but still require a 25% down payment

Condotel Unit Buyers who already own two or more properties, the new condotel purchase will be classified as an investment unit and a 40% down payment is required.

Condotel Loans Florida: Cash-Out Refinance Mortgages

Condotel unit owners who own a Condo-Hotel Unit that is free and clear can do  a cash-out refinance:

  • On Condotel loans that a borrower might need a cash-out refinance, borrowers can get 75% Loan to Value on primary and second condotel units
  • Lower Loan to Value restrictions apply if it is an investment Condo-Hotel unit
  • 60% cash-out refinance loan to value on investment condotel units

For those interested in investing in a Condo Hotel in Florida, please contact us at Gustan Cho Associates at 800-900-8569 or text us for a faster response. Or email us at  We are available 7 days a week, evenings, weekends, and holidays to answer any questions you may have.

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