Condo Hotel Loans
- Loan Amount up to $5,000,000
- Purchase Up to 70% LTV
- Cash Out Up to 65% LTV
- No Reserves Required
- Foreign Nationals Acceptable
- Investment and Vacation Properties
Another South Florida unique product that allows for vacation or investment home buyers to obtain financing on the most prestige’s Condo-Hotel projects in South Florida.
It allows you not like any other banks to borrow up to 70% of the purchase price or appraised value whichever is lower. It has no limitations non-warrantable condos and this product applies to domestic buyers as well as to foreign buyers.
This type of loan secured by the Mortgage is exempt from any provisions of the Real Estate Settlement Procedures Act of 1974, as amended and Regulation “X” of the Secretary of Housing and Urban Development because the proceeds of the Loan and the Loan proceeds are being used for as an extension of credit primarily for a business, commercial, or agricultural purpose, as defined by 12 CFR 1026.3(a) (1) of Regulation Z.