Condotel and Non-Warrantable

• Condotel financing for primary or vacation/2nd home financing is available up to 85% LTV to $3,000,000.00
• Can be classified as a second home even if rental income is claimed on schedule E. (on case by case basis)
• Investment financing is available Up to 85% LTV to $3,000,000.00 (borrower doesn’t intend to use the property)
• Cash out for 2nd home and vacation home up to 70% LTV
• Cash out for investment up to 70% LTV

• Daily/Nightly and weekend rentals condotel financing
• High investor concentrating
• And individual or entity owing more than 10% of the units
• Hasn’t yet been turned over to an HOA
• Unit can be the 1st loan in the complex
• Litigation NOT involving structural defeats to the complex can be reviewed on case by case basis

• Non-Warrantable financing is available Up to 85% LTV to $3,000,000.00 for primary or vacation home.
• Rental income on a condo can still be classified as a vacation or 2nd home if the borrower periodically uses the property.
• Financing available Up to 85% LTV to $3,000,000.00 for investment (borrower doesn’t intend to use the property)
• Cash out for investment, vacation, and 2nd home is available Up to 70% LTV

Non-Warrantable Condo and Co-Op Program is Okay With the Following:

• Able to use Retirement Accounts to qualify even if borrower is not of retirement age for asset depletion.