Florida Condo Hotel Financing is Back

Condotels

Florida Condo Hotel Financing

 

If you are in the market for a Condo Hotel in Florida, you might have run into some problems finding eager Condo Hotel Mortgage Lenders who are aggressively seeking to finance your Condotel.  Most Florida Condo Hotel Financing lenders who used to finance Condo Hotels in Florida have ceased lending Condotels.  Banks like J.P. Morgan Chase, Wells Fargo, Citibank, and Bank of America used to be Florida Condo Hotel Financing Lenders but have completely stopped.  Although you might have your Condo Hotel financed through their banks, they are likely not to refinance your Condo Hotel. Most Condo Hotel owners have given up on financing a Condo Hotel or refinancing their Condotel.  Good news is that Condotel Financing is one of my specialties.  I can close a Condo Hotel mortgage in 21 days or less. I am one of the few Florida Condo Hotel Financing specialists in the state.

Florida Condo Hotel Financing is back after 2008 Mortgage Meltdown

Condo Hotels is very popular in the state of Florida.  Condotels make excellent second homes and the great part about it is that you can make substantial income when you are not using it.   A major hurdle why we do not have many more Condo Hotel investors is due to the fact that Condo Hotel Financing has almost become extinct.  Only a handful of lenders, myself included, can finance Condo Hotels in Florida.  Many sellers are aware of the scarcity of Condo Hotel Financing that most of them will only entertain cash offers.  You can still get a mortgage on your Condo Hotel purchase and your Condotel Refinance.

More on Florida Condo Hotel Financing

I will be covering more on Florida Condo Hotel Financing in later blogs.  If you are interest in purchasing a Condo Hotel in Florida and need Condotel Financing information, please do not hesitate to contact me at 262-716-8151 or email me at gcho@gustancho.com.

Gustan Cho NMLS ID 87329

Related> Condotel Financing

Related> Florida Condotel Market Hot

Related> 2015 Guidelines on Condotel Financing

The information contained on Gustan Cho Associates website is for informational purposes only and is not an advertisement for products offered by The Gustan Cho Team @ Gustan Cho Associates or its affiliates. The views and opinions expressed herein are those of the author and/or guest writers of Gustan Cho Associates Mortgage & Real Estate Information Resource Center website and do not reflect the policy of Gustan Cho Associates Lenders Network, its officers, subsidiaries, parent, or affiliates.

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