We Now Have Condotel Financing!

Justin MillerJumbo Mortgages

We are now offering financing on Condotels (Condo Hotels)!  Here are some of the guidelines:

  • Only on loan amounts over $417k
  • No fractional ownership allowed in the project
  • Subject unit must not be subject to a mandatory rental pool; it must be for the borrower’s exclusive use and enjoyment
  • Project must have no more than 50% investor concentration
  • Commercial space limited to 35%
  • Minimum square footage of 500 square feet and unit must have a fully functioning kitchen
  • Housekeeping, front desk, card key access and daily rentals allowed
  • Property must be located in a resort area or metropolitan area with a project associated with luxury high-end hotel brand
  • Primary residence and second homes only
  • Appraisal must include similar condotel comps

Call or email us with any questions!