• Condotel and Non-Warrantable

  • Condotel and Non-Warrantable Condo

  • Condotel Financing

    • Condotel loan 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

  • Condotel program is okay with the following:

    • Daily/Nightly and weekend rentals
    • 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 Condos and Co-Op Program

    • 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:

    • High investor concentration
    • Individual or on entity owning more than 10% of units
    • Hasn't yet been turned over to an HOA
    • The condo is the 1st financed condo loan in complex
    • Litigation NOT involving structural defects to the complex can be reviewed on case by case basis.

  • Asset Depletion

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

  • Foreign National

    • Available up to $3,000,000.00
    • Work VISA / Expatriate
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