MortgageDepot affords Condotel Financing companies nationwide, together with in Washington D.C., with a streamlined course of in comparison with different lenders.

Key Options:

• Loans accessible as much as $5,000,000 with money out choices
• Funding for brand new initiatives even with out offered models
• Acceptance of studios, kitchenettes, lock-off rooms, and models below 500 sq. toes
• Mortgage-to-Worth ratios as much as 75%
• Consideration of all non-warrantability causes besides structural or building litigation
• Gifted down funds and reserves allowed, together with for funding functions
• Money-out refinances with no seasoning and no restrict on money obtained
• LLC closings accessible for funding models
• Insurance coverage deficiencies taken into consideration*
• Approval for people with no credit score historical past, expats, and international nationals
• Financing accessible for initiatives with timeshare models, specializing in non-timeshare models
• Condotels may be categorized as main residences, second houses, or investments
• Compatibility with different Advancial applications, together with asset depletion
• Nationwide availability in all 50 states and Washington D.C.
• Pre-approvals for each purchasers and property complexes
• Expedited closings for pressing circumstances – making certain well timed mortgage processing

Contact us for extra details about the condotel mortgage program, we’ll offer you rates of interest and charges as nicely.