Condotel Financing All Locations : Nationwide Real Estate Advice

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Cynthia Frank, Real Estate Pro in Port Aransas, TX
Cynthia Frank answered:
Banks in texas that finance hotel condos
Hi. I am Cynthia from Silver Sands in Port A and it has been my experience that First Victoria Bank is the best for Condo financing since they design portoflio loans.
0 votes Share Flag Thu Jan 16, 2014 Financing in 78373
Maria Sassano, Real Estate Pro in Miramar Beach, FL
Maria Sassano answered:
Do these condo's fit conforming mortgage guidelines? Or ore they considered condotels?
Whick condos is he referring to? Most of them in this area fit to conforming mortgage guidelines. There may be a couple that are not but the names will tell which ones.
0 votes Share Flag Wed Dec 18, 2013 Market Conditions in Miramar Beach
Marilyn Maye…, Real Estate Pro in New York, NY
Marilyn Mayers answered:
Which lenders provide financing for non-warrantable condominiums in the New York area?
I have a listing in a non-warranable condo and I have found a bank that will offer lending.
Contact Adam Sherman at Citibank and he will help you out. Adam can be reached at a.sherm ... more
0 votes Share Flag Fri May 25, 2012 General Area in New York
Michelle Mit…, Real Estate Pro in Collegeville, PA
Michelle Mitchell answered:
When buying a 1 bedroom 500Sqft condo.should you have a home inspection?
A home inspetion is always a good idea. You just never know what you will find.
Ask your Realtor to recommend one.
0 votes Share Flag Mon Mar 26, 2012 Home Buying in Ocean City
Tom Lewis, Real Estate Pro in Orlando, FL
Tom Lewis answered:
What can I expect right now regarding financing a second home purchase in the Panhandle? Would be looking f ...

I answered your other question and wanted to get to you on this one too. Most banks, the few lenders that are still doing condos, are typically requiring 20% down and rates ran ... more
0 votes Share Flag Fri Feb 10, 2012 Financing in Panama City Beach
Happy Duncan, Real Estate Pro in Conway, AR
Happy Duncan answered:
We are in the market for a 1BR condotel unit in Myrtle Beach. Most 1BR condotels units are less than 500 ...
Have you contacted Coldwell Banker mortgage? I will be glad to put you in contact with our agent. Please give me a call @ 843-222-8308 or email me at
0 votes Share Flag Fri Dec 23, 2011 Home Buying in Myrtle Beach
Sara Leicht, Real Estate Pro in Sarasota, FL
Sara Leicht answered:
I have found a condo in Longboat Key Florida that I would like to buy. However ... condotel category. Is it possible to get financing? ...

In today's market place the lenders dont' like condos that have weekly rentals or on site rental offices. They look at this as vacation places and like the ratio of ... more
0 votes Share Flag Fri Apr 4, 2014 Financing in Longboat Key
David O'Conn…, Real Estate Pro in North Myrtle Beach, SC
David O'Connell answered:
What are the pros and cons of the introduction of timeshares at Anderson Ocean Club?
Pros: now there is very limited inventory, which will drive the prices up, as well as the rental incomes. Hilton will be filling their rooms with their timeshare clients, leaving very l ... more
0 votes Share Flag Sun Oct 23, 2011 Home Buying in Myrtle Beach
Carol Cole, Real Estate Pro in Myrtle Beach, SC
Carol Cole answered:
We are considering buying a condo in Anderson Ocean Club . Is financing available and are there other com ...
Yes. Financing is available. Anderson Ocean Club is a luxury oceanfront resort only a few years old. There are few upscale oceanfront condos to compare it to. The Dunes area and Kingsto ... more
0 votes Share Flag Sat May 18, 2013 Financing in Myrtle Beach
Stephen Mear…,  in Atlanta, GA
Stephen Mearman answered:
How much income do I need to qualify for a $169, 000 home, I have good credit and only 2 credit cards with very low balances.?
Assuming zero debt you could get a FHA mortgage for the purchase price os $169,00 with a annual salary of just $25k.

Call me if you like to get pre-qualified to buy a home.

Steve ... more
0 votes Share Flag Thu Jun 20, 2013 Home Buying in Atlanta
thelendingte…, Real Estate Pro in Clearwater, FL
thelendingteam answered:
Perdido Key Florida beach condo .Can anyone tell me the correct downpayment in that market for a second home finance deal .?
It is going to be at least 20% for a second home. However, if the condo association allows weekly rentals, you might have a tough time getting this financed.
If the investor concentra ... more
0 votes Share Flag Wed Feb 27, 2013 Financing in Perdido Key
John Kim, Real Estate Pro in Myrtle Beach, SC
John Kim answered:
Is it possible to get financing on a Myrtle Beach Condotel?
Hi Mike,

Yes it is possible, but there are a bunch of restrictions.

Most of them are:
1. Has to be over 750 sq ft
2. HOA has to be handed over to the Home Owners (as opposed to ... more
0 votes Share Flag Mon May 12, 2014 Financing in Myrtle Beach
Timothy P. F…, Real Estate Pro in Sarasota, FL
Timothy P. Field, PA answered:
Sand Cay is one opportunity. There are others with more recreational amenities and track records of occupancy.

The better managed condo hotel receives better ratings for financing.
... more
0 votes Share Flag Fri Aug 3, 2012 Home Buying in Longboat Key
Candy Snyder, Real Estate Pro in Frisco, CO
Candy Snyder answered:
Who will finance a partial ownership of a condo and what are the current rates?
HI John - I am at home now but will do some research tomorrow for you and let you know.
It will be in the afternoon as I am delivering gifts to Eagle County to kids who have a parent
... more
0 votes Share Flag Fri Dec 17, 2010 Home Buying in Keystone
Paulette Korr, Real Estate Pro in Orlando, FL
Paulette Korr answered:
Wanted to invest in a turn key prop for rental&recreation.I am a Canadian resident and will visit Florida only once a year for a week or 2.

There are many ways to do what you wish to do. The key is to hire a good property management company to help with either a single family house, townhouse or condo. What did y ... more
0 votes Share Flag Wed Dec 15, 2010 Foreclosure in Orlando
Ken Cook,  in Atlanta, GA
Ken Cook answered:
I am a H1 Visa holder and unable to find a lender who can get me a loan without GC/EAD.
What is your I-485 status? Are you working on you H1B?

Georgia FHA Leader
Ken Cook 877-7000-KEN (536)
NMLS ID 208452

Employer: AmericaHomeKey, Inc. 2300 Windy Ridge Parkway, ... more
0 votes Share Flag Mon Oct 14, 2013 Financing in 30328
Antonio Vega…, Real Estate Pro in Saint Cloud, FL
Antonio Vega-Pacheco answered:
HI I am looking at a property (8930 Polynesian Lane #128N, Orlando FL 32836) which is listed at $35,000 is this the real selling cost or are there

Based on the address you provided what i can find is a double wide trailer home which has never been listed on MLS. There is no information as to who is selling it, whether ... more
0 votes Share Flag Mon Nov 15, 2010 Home Buying in Orlando
Gearhart - M…, Real Estate Pro in Denver, CO
Gearhart - Moore Team answered:
Are there any Colorado Lenders who can originate loans on Condotels? Thanks!
I have one wholesale lender I am signed up with who can offer mortgages on condotels and non-warrantables. Fixed rate is in the 7% range and 5 yr ARM is in the low 5% range. Need 20% eq ... more
0 votes Share Flag Mon Aug 10, 2015 Financing in Vail
Happy Duncan, Real Estate Pro in Conway, AR
Happy Duncan answered:
I'm looking at purchasing either a 2 or 3 bedroom Dunes Village Resort Condo. Anyone have any info on this property.?
Hi ken,
I will be gald to help you with your purchase. I am a native Horryite and work for Coldwell Banker Chicora. What kind of info do you need? email me at ... more
0 votes Share Flag Wed Feb 17, 2016 Home Buying in Myrtle Beach
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