I provide Condo Hotel financing options for people wanting to invest in something unique and more different than the typical single family home. Las Vegas is one of the best markets to own a Condotel.
Condo Hotel properties are a hybrid of a traditional hotel and a Condominium, with some offering both short-term and long-term rental options. You will typically need an investment property loan to buy a Condotel. Condotel mortgages are available.
Condotels are non-warrantable condos, meaning they are not approved for financing by fannie mae or freddie mac. People like that they can stay at their own property when it’s not rented out.
Condotel financing, especially in Las Vegas, has become very popular for real estate investors looking for a diverse investment opportunity.
Condotel mortgage financing loans provide a flexible option for individuals looking to invest in a Condo Hotel property. The Las Vegas market is doing very well. With a wide range of loan options and varying terms, it is important to ask me to lay out your different loan options, including interest only and low-doc DSCR loans.
High-Rise mortgage loans require 20% Down minimum. Non-Warrantable Condo financing is available. “Non-warrantable” means the development is not approved by Fannie Mae or Freddie Mac. Mortgage Loans for high- rises in Las Vegas can be a bit complicated and should be handled by an experienced “Non-QM” lender such as myself.
If you are self-employed you might qualify for a bank statement mortgage loan without the need to provide tax returns. Low-documentation DSCR loans are available for investment (rental) properties.
In order to determine IF a property is able to be financed, we need an “HOA Lenders Questionnaire”. This is in addition to the “resale package” that is typically provided to the buyer by the seller. This will provide information such as current litigation, a budget, and the percentage of owners who are late on their HOA dues. This information is needed to get mortgages in Las Vegas for high-rises.
Mortgage Loans are available on the Four Seasons Private Residences Las Vegas. Message me about loans on this property.
Complete the contact form at bottom and tell me your credit score, annual income and what development you are considering.
Dan Sherbondy
Senior Loan Officer
All Western Mortgage
(established in 1981)
“Dan The Loan Man”
702-326-7469 talk/text every day
DSherbondy@AllWestern.com
Dan’s Licensing: NV MLD 45649, CO-100516554 CA-DFPI313289 NMLS 313289
All Western Mortgage, 8345 W Sunset Rd #380 Las Vegas, NV 89113
702-326-7469- TALK OR TEXT | | 702.369.0905 – Switchboard (Ask for Dan)
Company NMLS# 14210, NV Division of Mortgage Lending Lic# 204, CA Dept of Corporations Lic# 603F053, CA Dept of Real Estate Lic# 01893025, CO Division of Real Estate.