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 rental models. At MortgageDepot, we’re skilled in condotel financing and are right here that can assist you get the condotel financing you’re searching for.

What’s a Condotel?

A condotel, because the identify suggests, is a condominium that additionally operates like a lodge. It affords the very best of each worlds, combining the comforts of a rental with the comfort and facilities of a lodge. These models are usually positioned in widespread vacationer locations, making them a sexy funding alternative for these seeking to generate rental earnings.

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 seeking to buy a condotel or money out on an current unit, we’ve got the mortgage packages.

Buy a Condotel with Ease

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

Cashout on Your Condotel

For those who already personal a condotel and wish 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, guaranteeing that we will accommodate a variety of budgets and preferences.

Curiosity-Solely Funds Accessible

We additionally supply interest-only cost choices for condotel loans. This may be notably useful for buyers seeking to maximize their money move or those that favor the flexibleness of decrease month-to-month funds. Our staff will work carefully with you to find out the very best cost construction based mostly in your distinctive monetary targets.

Contact us at your earliest conveyance and converse to certainly one of our condotel mortgage specialists.