Condo Hotels can be financed! The largest bank's and broker's on the Island will finance a unit! It depends on which Condo Hotel and it trems and conditions. Of course it may not be your normal 30 year conventional loan. But, they will finance a unit! Call me I can have one of my realtors who specialize in this area of Condo Hotels check for you and we can also refer you to some names of lenders who will finance the property!
Kristi K Tanaka, R BIC
Aloha Pacific Properties, Inc.
Please read my note below. Along with all the others, you have a volume of information, all valid and good. If you are serious, do something, even if it might be wrong. It's time to act, or move back into your security zone. Jerry... more
I strongly suggest getting a buyers agent, an attorney, and a home inspector. One of the rules I have learned in my life is that if you surround yourself with knowledgeable professionals then you will be protected as much as possible from costly surprises. The purchase of a house is not a DIY project.
The Realtors on Trulia are very good, I would start with interviewing Realtors. I have seen a lot of my clients regret not using a Realtor.
Just some advice from a real estate pro.
All the best,
Toll free: 800-359-1996 x551
NMLS ID: 387922
Visit my webpage: http://www.totalmortgage.com/bankers/fritz-walter/
Company Website: http://www.totalmortgage.com
Total Mortgage Services, LLC - NMLS #2764
Total Mortgage offers a complete selection of mortgage programs including:
Conventional, FHA, FHA 580-639 FICO, FHA 203 Renovation (Streamline & Consultant), HomePath, VA, VA IRRL, USDA, Jumbo financing , and No Income or reduced income. Portfolio, jumbo, and conventional programs offered for self-employed borrowers as well.... more
If you are preapproved for that amount, you may want to consider an "Ohana" (a home with one or two other separate or attached units) or a duplex with two units in one. Check with your lender as to the cash reserve requirements. Once you get to 4 units, the rules get a lot more stringent.
Good idea about buying if you're stationed here. I bought a place when I was first stationed here in the 80s.
(RA) MBA, e-PRO, REALTORÂ®
East Oahu Realty