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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 condominium models. At MortgageDepot, we’re skilled in condotel financing and are right here that can assist you get the condotel financing you might be looking 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 condominium with the comfort and facilities of a lodge. These models are sometimes situated in fashionable vacationer locations, making them a horny 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 have now the mortgage packages.
Buy a Condotel with Ease
With our condotel mortgage product, you should purchase a condotel with as little as a 15% down cost. Meaning you’ll be able to safe 85% financing, making it simpler to buy a condotel. We perceive that condotel purchases require a distinct method, and our skilled group is right here to information you thru the method.
Cashout on Your Condotel
Should you already personal a condotel and need 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 $2.5MÂ
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 significantly helpful for traders seeking to maximize their money stream or those that choose the pliability of decrease month-to-month funds. Our group will work intently with you to find out the very best cost construction based mostly in your distinctive monetary objectives.
Contact us at your earliest conveyance and converse to certainly one of our condotel mortgage specialists.
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