Condotel and High Rise Loans

 Condotels – High Rises – Non-Warrantable Condos (meaning not approved by Fannie Mae) 

15% down w/ 660 score   *   20% down w/ 620 score   *   Up to 1.5M Loan Amount

25% down w/ 620 score up to 1.75M Loan Amount  *  30% down w/ 620 score up to 2M Loan Amount

Transactions allowed: Purchase, Rate term Refinance/Delayed Financing, Cash out Refinance.

  • Minimum Loan Amount $100,000
  • No 30-day mortgage lates in the last 12 months
  • 30 year fixed or a 5/1 ARM is also available.
  • Up to 6% seller contribution is allowed
  • Maximum DTI 43%
  • 24 month must have elapsed since your Bankruptcy discharge or dismissal, Short Sale, Foreclosure, or Deed in Lieu.
  • 6 to 9 months of the payment amount must be in your bank or retirement account at close of escrow as reserves.
  • Condotels and High Rises. Units must have a full kitchen and a separate bedroom. No studio financing.
  • We need an HOA Cert or some documentation to determine if the development can be financed. It must contain the percentage of renters vs. owners, the HOA budget, percentage of people late on their HOA dues, any litigation on the project, etc
  • Cash out refinances require a 640 score and 80LTV maximum. Maximum cash out is $350,000.

702-326-7469 – talk/text          Email: DSherbondy@AllWestern.com 

Las Vegas Condotel
Las Vegas High Rise Condo

Dan Sherbondy
Senior Loan Officer
All Western Mortgage Bank
(established in 1981)
“Dan The Loan Man”
702-326-7469 talk/text
efax: 702-583-7467
DSherbondy@AllWestern.com

Equal Housing Opportunity

Dan’s Licensing: NV MLD 45649, CA-DBO313289, NMLS 313289
All Western Mortgage, 8345 W Sunset Rd Ste 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, Arizona Lic# 0923280, Licensed by the CA Dept of Corporations Lic# 603F053, CA Dept of Real Estate Lic# 01893025, CO Division of Real Estate, Florida Lic# MLD895, NM Financial Institutions Division Lic# 03619, UT Division of Real Estate Lic# 7776975,
OR Dept of Consumer & Business Services Lic# ML-4924, TX Dept of Savings and Mortgage Lending – Consumer Notice, WA State Dept of Financial Institutions Lic# CL-14210.