Home Mortgage Condotels: A Distinctive Mix Of Condos And Motels

Condotels: A Distinctive Mix Of Condos And Motels

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Condotels: A Distinctive Mix Of Condos And Motels

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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 title suggests, is a condominium that additionally operates like a lodge. It presents the most effective of each worlds, combining the comforts of a condominium with the comfort and facilities of a lodge. These models are sometimes situated in standard vacationer locations, making them a lovely funding alternative for these trying to generate rental revenue.

Mortgage Merchandise for Condotels

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

Buy a Condotel with Ease

With our condotel mortgage product, you should buy a condotel with as little as a 15% down fee. Meaning you possibly can safe 85% financing, making it simpler to buy a condotel. We perceive that condotel purchases require a distinct method, and our skilled workforce is right here to information you thru the method.

Cashout on Your Condotel

Should 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 will accommodate a variety of budgets and preferences.

Curiosity-Solely Funds Accessible

We additionally supply interest-only fee choices for condotel loans. This may be significantly helpful for traders trying to maximize their money circulate or those that want the flexibleness of decrease month-to-month funds. Our workforce will work intently with you to find out the most effective fee construction based mostly in your distinctive monetary targets.

Contact us at your earliest conveyance and communicate to one among our condotel mortgage specialists.

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