According to a study that evaluated condo-hotels in the Florida state and projected returns over a five-year period from 2006 to 2011 the return rate is usually 1%. Call or Text: (800) 900-8569. Located in Myrtle Beach, finding an affordable mortgage is the first step to your new South Carolina home. Subscribe now. Home Spring Mortgage offers non-QM condotel loans with. com. For those who need condotel financing, please contact us at Gustan Cho Associates at 262-878-1965 or text me on my cell for faster response at 800-900-8569. 1,000 Sq Ft. (DSCR is always expressed as a decimal. He holds a Bachelor’s in Journalism and Mass Communications from the University of South Carolina. Orlando, FL – New Pre-Construction Condo Hotel. 3 bed. Condotel and Non-Warrantable Condo Financing. Miami CONDOTEL Financing. $242,900. Condotels at One Ocean Place: One Ocean Place, Room 203 - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Speak to us about Condotel financing. 91% for a 30-year fixed mortgage and 7. com®. What benefits do I get if I invest in a condotel? Quarterly dividends. View property. With BDO’s Home Loan, unit owners can now opt to pay off the balance for up to 15 years. 4856 Magnolia North Carnation Circle, Unit: 304, Myrtle Beach, SC 29577. • Cash-out is allowed up to $3,000,000 with no seasoning required. Portfolio Lenders can finance these types of Condos; Not all lender wants to take a risk for these types of Condos; What is a Minimum Down Payment For Condo. A condotel is a combination of a condominium and a hotel and is a unique type of property ownership. Private owners can purchase condotels. Condotels are condominium units situated within a condo hotel. Comfortable & Spacious. Condotel financing is one of the things you need to be considering even as you consider taking on this business. 00. Condo for Sale in Myrtle Beach, SC: Beautifully decorated furnished 3 bedroom 2 bath 1st floor end unit with screen porch overlooking the pond & fountain. Condotels at One Ocean Place, Garden City Beach: See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place, ranked #2 of 10 specialty lodging in Garden City Beach and rated 4 of 5 at Tripadvisor. A condotel essentially is a condo that can be rented either by the night, the week, the month or multiple months, and is similar to that of a resort as the building has a front desk where people can walk up to book or rent a unit. Up to 65% LTV on bridge loan for amounts between $1,500,000 to $2,000,000. 00 or as much as $3,360. )We can be contacted several ways to help answer any questions you may have: Call us at toll free at 888 259 2257. Visit hotel website. As you can see, the price difference. A condohotel, or a condo hotel as it is also called, is a unique type of residential and rental property. Conducting due diligence on lenders and maintaining open lines. Condotels at Surfmaster: Surfmaster- ROOM 412 is the BEST! - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. 3 bed. 3 bed. Minimum down payment of 15%. With a private balcony, these level 3 condominiums are angle oceanfront units. 1025 Highway 17 South. Owner Financing available for qualified buyers. (3) "Listing agent" means a real estate licensee who represents. Owner Financing - Myrtle Beach, SC Home for Sale. A condotel is a. Minimum Credit Score: 575. High LTV and Interest-Only Options. Condotels at One Ocean Place: Vacation - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Condotels at One Ocean Place: 3 bedroom condos oceanfront - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. 1. Coral Beach Bldg. THE OCEAN FOREST COMPANY. A condotel is a condo unit that is operated as a hotel. Condotel Mortgage Rates; Florida Condotel. CCNB offers special rates and terms specifically for condotels that include fixed or adjustable rates with as little as 25% down on second homes and 30% down on investor. Alpha Mortgage is licensed in North Carolina (L-113831), Virginia – Licensed by Virginia State Corporation Commission (MC-4927), South Carolina (#93265. Featured. Fannie Mae Lender Letter (LL-2021-14) specifically states that new guidelines are necessary to combat aging infrastructure and significant deferred maintenance in condominiums in the wake of. The amount depends on various factors, and each package will look slightly different depending on the lender. $101,000. Condotels at Surfmaster: Awesome Beach Vacation! - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. Ccnb offers special rates and terms specifically for condotels that include. We offer a range of financing solutions for condominiums, so you can find the mortgage you want – minus the hassles and stress you don’t. This FAQ document provides responses to common questions related to Fannie Mae’s project review methods and policies for determining project eligibility for mortgages secured by units in condo, co-op, and planned unit development (PUD) projects. For most banks and financing groups, it can take over a week to consider and evaluate your application. Here are the highlights of our Condotel program: Borrowers must have a minimum credit score of 680. You Are Trusting Us With Getting Your Commercial Loan Closed, We Return Your Faith and Trust Back By Being Available 365 Days a Year. Resort, Airbnb, Daily Rentals acceptable. Jumbo Mortgages/Adjustable Rate Loans. 4999 Carolina Forest Blvd, Suite 12, Myrtle Beach, SC 29579. Up to 65% LTV on bridge loan for amounts between $1,500,000 to $2,000,000. A condotel owner purchases a unit within the property and uses it as a second home or vacation spot. All you need is a credit check and either a down payment or refi equity. Each condotel is a part of a large-scale property that operates similar to a hotel, with a wide range of amenities and resort-style features. The difference in financing condominiums compared to single family homes is that lenders have to get the property approved in addition to merely approving the borrower. Florida Condo Mortgage, Florida Condo Mortgage Rates, Non-Warrantable Condo Mortgage, Condotel Mortgage Financing, Florida Condo Loans. – LendSure will calculate the income for you and provide an extensive, common-sense pre-qual within 24 hours. We consider loan-to-value ratios of up to 65%. General - FAQs. If you are staying at a resort, you pay $20 per day. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ; Condotels at Surfmaster;Condo Listings for Rent. Full Doc, Alt Doc and DSCR. Reed has been profiled in and written articles featured in. One thing to consider when buying a condotel, is that you will most likely need to pay cash. The manufactured home financing requirements need to be built on a solid concrete foundation. New Changes To Condo Lending as of Dec 7th, 2020. CONDOTEL. Free parking. FHA, VA, and USDA loan programs do not have second home financing programs. Book Condotels at One Ocean Place, Garden City Beach on Tripadvisor: See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place, ranked #2 of 10 specialty lodging in Garden City Beach and rated 4 of 5 at Tripadvisor. Condotel Unit buyers interested in getting qualified for Condotel Financing, please contact Gustan Cho Associates at 800-900-8569 or text us for a faster response. For sale. Assessing Risks and Returns in Condotel Investments. They do make for a great investment, because the summer months on the Crystal Coast bring A LOT of visitors! The second thing to consider when. Generally speaking, only lenders with in-house programs designed for condotels can finance condotels. " Meaning they are a condo that is in what they consider a hotel. Restaurants near Condotels at One Ocean Place, Garden City Beach on Tripadvisor: Find traveler reviews and candid photos of dining near Condotels at One Ocean Place in Garden City Beach, South Carolina. ”. Fannie Mae Updated Condominium Lending Guidelines. FLORIDA CONDOS. View property. South Carolina Condo Hotel Financing. com (800) 697-4371 facebookLenders have a business due to the demand for loans. Homebuyer’s Guide on What To Do After Getting Mortgage Denial After Conditional Approval Borrowers Guide. Qualification based on Property Income, Not Your Income. Special offer. Condotel Units, also known as Condo-Hotel, have been very popular from the mid-1990s until 2008, when the real estate and financial markets. Now you can offer borrowers financing for their condotels – all with the program options and service levels that you’ve come to expect from LendSure. Regarding Condotel or Non-Warrantable Condos, the lender will generally hold onto these loans. NUMBER OF ROOMS. Condotels and Garden City Realty Real Estate, Vacation Rental Property Management, and Vacation Rentals Condotels and Garden City Realty welcome you to experience the. 2 BDS | 2 BA | 1,100 SQFT. Experience stress-free financing today! (866) 803-2853. Learn more. 207 28th Ave N #25, North Myrtle Beach, SC 29582. - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Condotels often have the same features you would find at a regular hotel, such as concierge, valet, front desk services, and other amenities. A “condotel” is a portmanteau of “condominium” and “hotel. Report. C. Discover the perfect blend of real estate investment and luxury hospitality with our exclusive condotel offerings. Share: 19 Properties in Myrtle Beach from $119,000. Grateful in Advance - thanks!Condotels at Surfmaster: Surf Master in Garden City Beach, S. A condo is also known as a condominium. The list includes American Financial Network, CCNB, Movement Mortgage, Edge Home Finance, Ameris Bank, Conway National Bank, Guild Mortgage Company, Homebridge Mortgage, Neighborhood Loans, New Wave Lending and Union Home Mortgage. In this second part of our blog series on condominiums and condotel financing, we will explore the advantages of condotel investments and provide insights into how mortgage brokers can assist clients in unlocking the full potential of this unique property type. 8999. CONDO FINANCING. Condotels at One Ocean Place: Unit 203 beautiful view, horrible parking - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Education: must complete a commission approved 30 hour course in property management fundamentals. At around $200 to $240 per square foot, it is about 57% as expensive to build a barndominium compared to a regular 2×4 framed home. Investing in a condotel property can be an excellent opportunity for individuals seeking a lucrative. Condo hotel mortgage loans also known as condotel and financing is offered aby portfolio lenders with 25% down payment on owner occupant. A condo hotel goes by many names. Get your quote today! 800-297-6414View 2594 condos for sale in North Carolina. Documentation: Qualify with either a traditional full doc loan or a limited document bank statement-only loan. As you can see from our program highlights, Allied First Bank of The Carolinas specializes in providing condotel financing solutions. (866) 803-2853. For more information, contact Oren at (312) 867-5363 x206 or by email at oorkin@capfundmtg. Rates typically run a half-percent. - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. 5 million as a primary or second home. A condotel operates just like a hotel and hosts short-term guests. South Carolina. 967. Buying this sort of property is close to buying a traditional condo. First Home Equity Loans is a resource for many different loan types for investors, including Condotel Financing. A 2 bedroom angle oceanfront apartment can be about $185,000 to $225,000. North Carolina Condominium Act. 5 miles from Condotels Golf Colony Resort. Long-Term Fixed or ARM Rates. FHA loan limits in many parts of California is $679,650. You Are Trusting Us With Getting Your Commercial Loan Closed, We Return Your Faith and Trust Back By Being Available 365 Days a Year. Projects that have no other condotel characteristics, but which permit unit owners to offer short-term rentals on a seasonal basis while they reside in the units. Condotel financing, investment, vacation, and second home financing available for cash out and purchase. com or visit us at No lender overlays. Investment home financing on a single-family home requires a 15% down payment. LuciaThe average rent price in Myrtle Beach, SC, is $1,319. Assisted Lendings is a group of professional business people joining together to offer investor cashflow financing. Condotel Financing. Better rates available for 70 percent financing and less. 1105 S Ocean Blvd. Sometimes one size doesn’t always fit all. As for home appreciation, values have increased 5. Las Vegas-based The Siegel Group, a real estate investment and management firm, is the new owner of a 191-room hotel off of Orange Blossom Trail just north of Florida. 5 of 5 at Tripadvisor. 1696 Fax: 603. Advertisement. A list of local lenders and contacts who can provide traditional financing for condos and condotels in South Carolina, based on the type of loan and the characteristics of the. On January 1, 2022, the updated Fannie Mae condominium lending guidelines went into effect. Coral Beach. Beach is very clean, no trash, no seaweed even! Waves are crazy!! The undertow can be very strong, but there is a lifeguard from about 9-5 daily. For your protection, do not email your Account Number (s) or Social Security Number. Borrowers can also email me at gcho@gustancho. Show all. Main Office: 1320 Airlie Road | Wilmington, NC 28403 910. Financing a Condotel Purchase, Myrtle Beach, SC. In this article, we will discuss and cover condotel financing mortgage guidelines. com to schedule your consultation. Financing condominiums in Myrtle Beach can be a very tricky process. 2001 S Ocean Blvd #1304, Myrtle Beach, SC 29577. Condo Hotels are very popular in the state of Florida. The Team at Lending Network, LLC Is Available Seven Days a Week, Evenings, Weekends, and Holidays. A list of local lenders and contacts who can provide traditional financing for condos and condotels in South Carolina, based on the type of loan and the characteristics of the property. At times in 2022 and 2023. Get Started. When we met with a realtor, January 2021 he stated we could have 6-12k Condotel purchase on the beach - Myrtle Beach (Pawleys Island: short sale, oceanfront) - Myrtle Beach - Conway area - South Carolina (SC) -Horry County - City-Data ForumFHA Florida Condo Loan Spot Approval Requirements. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy. DSCR = Income / Payment. Condo-hotels buyers are usually required to put a minimum of 20% down payment although a higher down payment could be required on a larger purchase price. The minimal down payment is 3% for a primary residence, and grants are available to borrowers who qualify. Warrantable condos are one that a homebuyer can finance using a conventional mortgage, after having been approved under a set of guidelines set by government-sponsored enterprises Fannie Mae and Freddie Mac. Contact Gustan Cho Associates at 800-900-8569 or text for faster response. South Carolina; Horry County; North Myrtle Beach; Find a Home You'll Love. Gena: We’re using the term “condotel” to include a broad group of properties which typically have one or more “Hotel” type characteristics. Type Full Name Below: *. Learn more. Condo Guide for North and South Carolina, Florida and Georgia including oceanfront luxury condos and villas for sale plus condo hotels. 575 or greater credit scores. Apply Now and Get a Quote Today! Get more details. A short term loan used to finance the construction of your dream home that once built you can refinance. S. Get your loan solution in 30 minutes! Choose a program, calculate, or get your personal offer! Programs Loan Calculator Scenario Request Condominiums, often. Investment properties are eligible for the Condotel program. Condotels at One Ocean Place: Perfect Vacation!!! - unit 1210 - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. 1% in 2019. If you are interested in a condotel purchase loan or a condotel refinance mortgage loan please contact us at Non-QM Mortgage Brokers at 800-900-8569 or text us for a faster response. Orlando’s newest condo hotel is minutes from Disney’s theme parks and numerous other attractions. 2023. Up to 103 LPC Non-Owner Occupied. PRIVATELY-OWNED condominiums with a tourist market hungry for accommodations that offer top-of-the-line amenities, condotels are as much a part of the. Address Line 2. Angle oceanfront units are approximately $89,000 for one bedroom with a kitchen and a living room. A 10% down. FHA loan limits in many parts of California is $679,650. Today we explore the World of Condotel Financing and discover the benefits and drawbacks to consider. A condohotel, or a condo hotel as it is also called, is a unique type of residential and rental property. The condo can even be 5 miles from the “check-in desk”. NEO Home Loans is pleased to announce our new Condotel Program designed to accommodate the purchase […] Immediate Help: (801) 893-0697. Our quick loans come with competitive rates, flexible terms and convenient online banking. Condominium mortgages is a non-conforming portfolio loan. We offer 3/1 ARM, 5/1 ARM, and 7/1 ARM Condo Hotel Mortgage Loan Programs, amortized over 30 years. In this second part of our blog series on condominiums and condotel financing, we will explore the ad. No Income Verification, No Tax Returns. 2 Beds. VA Loans. If you think that condotel ownership may be for you, we can help you apply for competitive condotel financing in Miami or the surrounding region. One such specialized space is condotel financing, which involves mortgage loan arrangements for purchasing condominium units operated as hotels. Here are the highlights of our Condotel program: Borrowers must have a minimum credit score of 680. Condotel Financing Florida Mortgage Rates; Today's Condotel Florida Mortgage Rates; Live Condotel Mortgage Rates. At Acorn, let the best loan offer find you on our secure and user-friendly platform. Mortgage Bankers hours 8am-5pm (PT) Airbnb/VRBO Financing. Trump International Hotel and Tower. If you have a property you are looking to purchase, or need investment advice to find a good investment, call us now at 866-500-4500, or fill out our request funding form and a loan specialist will contact you within 1 business day. This article was provided by Oren Orkin of Capital Funding Mortgage Company, LLC, a residential and commercial lender that can provide financing for condo hotel units. 3. South Carolina Beachfront Real Estate For Sale listings have an average sales price of $1,607,157 ranging in price from $99,000 to $13,999,000. Over 75% of the borrowers of Gustan Cho Associates (Gustan Cho Associates) are folks who could not qualify at other lenders due. Visit Learn About Project Standards to see. Answer 1 of 3: Business travelers, looking for recommendations for good hotel or condotel for extended stay for worker in Columbia, SC near BCBS / I-20 for 1 to 3 months stay, perhaps longer. $575,000. To qualify, you’ll need to establish a certain minimum credit score and debt. 60 days bank statements. NMLS ID #93265. 843. Cash-out refinance mortgage loans on a manufactured home requires a loan to value. ; PBX phone system; high-level guest services such as 24. South Carolina gives tax breaks to certain people, but only as primary residents. Condotel and Non-Warrantable Condo Financing are 30 year adjustable rate mortgage portfolio loans. Re-Blog. If you’re having trouble getting a condotel loan or financing a luxury condominium, you’re not alone. 7. Condotel financing was totally unheard of. A condotel is a combination of a condominium and a hotel and is a unique type of property ownership. Fannie Mae Updated Condominium Lending Guidelines. Sess. As you look set to take on Condotel investment, it is important for you to consider your investment partner in all this. Gustan Cho Associates is one of a few lenders that offer condotel financing. Or email us at gcho@gustancho. 1 Baths. During the pandemic, rates on 30-year fixed mortgages fell below 3 percent. U. A condotel unit is a private condominium unit inside a hotel that an individual and entity owns. Condo hotel mortgage loans also known as condotel and financing is offered aby portfolio lenders with 25% down payment on owner occupant. Second-home financing is conventional loans and conforming Fannie Mae Guidelines On Second Homes apply. Available financing for vacation and 2nd homes up to 85% loan to value to $3,000,000. Condotels make great investments in touristy areas where they. North Myrtle Beach Branch. Many property. In such cases, the Loan-to-Value,. Most Condotel Loans close in 21 days or less. Sun everyday, beautiful Condo North 702. Address Line 2. The following are the criteria in which properties would be allowed for condotel financing: The units need to have a full kitchen and a separate bedroom. Industry-leading Bank Statement Program. Owners used as 2nd home. ARM and 30 Year-Fixed Options available. 8999. Or email us at gcho@gustancho. We also provide first-rate, friendly service for every member. 1. No doc mortgage loans where tax returns and income verification is not required. Get the scoop on the 1474 condos for sale in Myrtle Beach, SC. Myrtle Beach, South Carolina, United States I've lived in the Myrtle Beach area for over 30 years and raised 3 daughters here who are natives. We can offer both warrantable and non-warrantable condo financing. with a major in real estate will also qualify. South Carolina Beachfront Condos & Villas For Sale listings have an average sales price of $342,818 ranging in price from $24,000 to $1,599,000. How. 9% over the past year, and are expected to rise another 7. 00. Condotel Financing Now Available. We will send you a secure online payment form to complete upon acceptance. other documentations. Brokered by Better Homes and Gardens Real Estate Elliott Coastal Living. “Below is a list of all of the buildings and condos that I have closed loans in recently that I know are already approved as true condos and meet all the. At Fidelity Home Group, we are Condotel Financing Florida mortgage experts! The Condotel also known as the Condo Hotel is quickly becoming popular in Florida as an investment opportunity. Golf colony resort 5p. But what is a condominium hotel or condotel? A condo-hotel is a new trend in the Myrtle Beach condo market. Demise Of Condotel Financing After Real Estate Meltdown. Auto Loans. You can potentially have quite a bit of money left over for the things that make a house comfortable and specific to your vision. Rock Hill, South Carolina 42 contributions 22 helpful votes. Great Vacation at a Wonderful Spot!!For sale. The units are located within a building that has the amenities of a hotel, including a front desk as well as a cleaning staff. The Best CONDOTEL Financing. second year in a row here !!! The owners of this Condo 702 have went overboard to make your stay enjoyable and better than your own home. We now offer Condotel and Non-Warrantable Condo Financing which are portfolio loans with 25% down payment. Free Wifi. The largest property for sale is 3,174 sqft and smallest 307 sqft. It’s a great way to own a fully furnished condo and be able to rent it out on a regular basis. Homes For Sale By Owner In South Carolina4487 Results Available. Alpha Mortgage is licensed in North Carolina (L-113831), Virginia – Licensed by Virginia State Corporation Commission (MC-4927), South Carolina (#93265), Florida (MLD1700), Georgia (#93265), and licensed in Texas – SML Mortgage Banker Registration. com so that we can make sure your policy is always working for you! Wondering if you need condo insurance in Myrtle Beach? Here's everything you need to know about this type of coverage, what it covers and how much it costs. 1 bath 400 sq ft 201 74th Ave N #2636, Myrtle Beach, SC 29572 (843) 492-4030 Owner Financing - Myrtle Beach, SC Home for Sale OWNER FINANCING AVAILABLE!!!!! No. The coastal south carolina city of myrtle beach is one of the top travel destinations in the nation. Condotels at One Ocean Place: Please Update - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Coral Beach Features and Amenities. $189,000 and up - Condo Hotel. South Carolina 864. We’ll point out important items to help you understand what’s on your credit profile. Beaufort, Beaufort County, SC . He holds a Bachelor’s in Journalism and Mass Communications from the University of South Carolina. No hassels with condotel financing!! Direct Oceanfront Efficiency Unit Beautifully Remodeled with a Kitchen. The minimum loan amount must be 10000$. Call ☎ (800) 697-4371Condotels at One Ocean Place: Beautiful Place ! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Generally speaking, only lenders with in-house programs designed for condotels can finance condotels. Loan Amount up to $5,000,000; Purchase Up to 70% LTV; Cash Out Up to 65% LTV. Condotels at Surfmaster, Garden City Beach: See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster, ranked #5 of 10 specialty lodging in Garden City Beach and rated 4. Non-Prime Bank Statement Mortgages For Self-Employed Borrowers. Sea Mist Direct Oceanfront condo Efficiency. Fannie Mae Lender Letter (LL-2021-14) specifically states that new guidelines are necessary to combat aging infrastructure and significant deferred maintenance in condominiums in the wake of. 5 million. Step 3: Confirm the Condo Project Insurance Requirements. • Immediate Florida Condotel – Condotel Florida rental income on the purchase of an investment property is allowed using 75% of the monthly rent schedule as documented by Form 1007 or 1025. Condotel and Non-Warrantable Condo Financing are 30 year adjustable rate mortgage portfolio loans. It was a nice room close to the pool with a. Flood Insurance Coverage Calculator. Text us for a faster response. 1,210 sqft. Unlike Fannie Mae and Freddie Mac, Condotel, and. Great Myrtle Beach Oceanfront Location on South Ocean Blvd. Call ☎ (800) 697-4371Condotels at Surfmaster: Surfmaster by the sea 809 - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. Financing and finding a South Carolina vacation home loan is much different that financing a primary residence. We can finance condotels in Florida, Alabama, Georgia, North Carolina and South Carolina. 18, 2009. Financing is available when you are looking to purchase a unit in a condotel but it is often more limited than when looking. #110 FRACTI, North Myrtle Beach, SC 29582. Text us for a faster response. California home buyers with credit scores as low as 580 FICO can now qualify for California home loan with bad credit. 2403 Environ Way #2403, Chapel Hill, NC 27517. 9694. As far as the technical difference goes, if there’s a nightly rent and there’s a check-in desk, it’s a condotel. As an investment owner, you are not a primary resident. Pet-friendly Rentals. Balloon payment due in 6 months with. com. Investment property loans Commercial & Residential Condo Hotel Loans. By Alison Gregor. The minimum loan size for both condotel and non-warrantable financing is $100,000. (866) 803-2853. Minimum loan amounts commonly fall in the range of $75,000 to $150,000 for most lenders. Prequalify. This ground level 2-bedroom condo is located. com. Some lenders may go as low as $55,000. Visit Learn About Project Standards to see all Project. Explore our range of condotel financing solutions designed to simplify your investment journey Flexible Condo Hotel Loans. 169 reviews. Flood Insurance Coverage Calculator. Oceanfront condominium guide for Florida, South Carolina, and North Carolina cities. Call ☎ (800) 697-4371Condotels at One Ocean Place: The nicest place that we have yet to stay at Garden City SC. If you are looking in Charleston County, the average price soars up to $505,000. CONDO RESOURCES. Officials acknowledged their vote was tied to a $100 million “condotel” project proposed along 30th Ave. Condotel financing was totally unheard of. com®. SECTION 27-31-50. Real Estate Investors and homebuyers can also subscribe to our newsletter at condotel is a hybrid between a condominium and a hotel that lets owners enjoy the unit (and the property’s on-site amenities) themselves as well as generate income by offering it as a short-term rental property. Subscribe now. About Us. Here’s how to get your score: Complete the form below. $239,900. According to a study that evaluated condo-hotels in the Florida state and projected returns over a five-year period from 2006 to 2011 the return rate is usually 1%. Up to.