Have you ever ever heard of a condotel? If not, you’re in for a deal with! We provide Condotel mortgage merchandise for these distinctive condominium models. At MortgageDepot, we’re skilled in condotel financing and are right here that will help you get the condotel financing you might be in search of.

What’s a Condotel?

A condotel, because the identify suggests, is a condominium that additionally operates like a resort. It affords the very best of each worlds, combining the comforts of a condominium with the comfort and facilities of a resort. These models are sometimes situated in fashionable vacationer locations, making them a pretty funding alternative for these seeking to generate rental revenue.

Mortgage Merchandise for Condotels

At MortgageDepot, we provide specialised mortgage merchandise tailor-made to fulfill the distinctive wants of condotel patrons. Whether or not you’re seeking to buy a condotel or money out on an current unit, we have now the mortgage packages.

Buy a Condotel with Ease

With our condotel mortgage product, you should purchase a condotel with as little as a 15% down cost. Which means you possibly can safe 85% financing, making it simpler to buy a condotel. We perceive that condotel purchases require a unique strategy, and our skilled staff is right here to information you thru the method.

Cashout on Your Condotel

In the event you already personal a condotel and need to entry its fairness, we provide cashout choices of as much as 80% of the unit’s worth. Whether or not you’re planning to reinvest the funds or use them for different functions, our cashout choices present you financing you want.

Mortgage Quantities as much as $2.5M 

Our condotel mortgage quantities go as excessive as $2.5 million, making certain that we are able to accommodate a variety of budgets and preferences.

Curiosity-Solely Funds Out there

We additionally supply interest-only cost choices for condotel loans. This may be notably helpful for buyers seeking to maximize their money circulation or those that choose the flexibleness of decrease month-to-month funds. Our staff will work carefully with you to find out the very best cost construction primarily based in your distinctive monetary objectives.

Contact us at your earliest conveyance and communicate to one in every of our condotel mortgage specialists.