Condotel and High Rise Mortgage Loans

Condotel Loans:

• Trump Tower, Vdara, are two of my favorites. Signature at MGM has been unwilling to provide information about the property that is needed to secure a mortgage loan.  
• Minimum down payment is 25% to 35%.
•  No income verification required (DSCR Loan) IF the property will be a rental property. 
• Studios are ok. No minimum square footage.
• Closing in LLC is ok
• $100,000 minimum loan amount
• DSCR (easy qual) loans are available for Condotel and High-rises.

Non-Warrantable (not approved by fannie mae) Condo and High-Rise Loans:

• Minimum down payment is 20%

***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. 

Complete the contact form at bottom and tell me your credit score, annual income and what development you are considering.