Residential
Condotel Loans
Unlock the potential of condotel ownership with CMRE's specialized Condotel Loans. We offer flexible financing solutions for purchasing condo-hotel units, allowing you to invest in unique properties that blend hospitality and real estate. With competitive rates starting at 6.875% and loan options tailored to your needs, CMRE makes condotel ownership a reality.
Program Benefits
Competitive interest rates starting at 6.875% for qualified borrowers.
Financing available for a wide range of condotel properties.
Lower down payment options with LTVs up to 97%.
Streamlined loan process for quick approvals and closings.
Expert guidance from experienced loan officers specializing in condotel financing.
Opportunity to generate rental income through condotel ownership.
Program Highlights
Max LTV
97%
Min Credit Score
620
Max DTI
50%
Loan Amount Range
$75K - $2M
Amortization Options
Eligible Properties
- Condotel Units
Program Requirements
Income Documentation
- •Stable and verifiable income history required.
- •Sufficient income to cover mortgage payments, property taxes, and insurance.
- •Documentation such as pay stubs, W-2s, and tax returns may be required.
- •Self-employed borrowers may need to provide additional documentation.
Asset Verification
- •Sufficient assets to cover down payment, closing costs, and reserves.
- •Acceptable asset types include savings accounts, checking accounts, and investment accounts.
- •Reserves typically required to cover several months of mortgage payments.
- •Gift funds may be allowed with proper documentation.
Insurance & Title
- •Hazard insurance required to protect the property against damage.
- •Flood insurance may be required depending on the property's location.
- •Condo association insurance typically covers common areas.
- •Review insurance coverage with your loan officer to ensure adequate protection.
Property Requirements
- •Minimum FICO score of 620 required.
- •Good credit history with no recent major derogatory marks.
- •Lower interest rates may be available for borrowers with higher credit scores.
- •Credit report will be reviewed to assess creditworthiness.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
The typical down payment for a condotel loan can range from 5% to 20%, depending on factors such as your credit score, loan amount, and the property's location. With CMRE, LTVs are available up to 97%.
Yes, in many cases, lenders will consider the potential rental income from the condotel when evaluating your loan application. CMRE considers the income when assessing eligibility.
Yes, condotel loans can be more challenging to obtain than traditional mortgage loans due to the unique nature of these properties. CMRE specializes in these niche properties.
CMRE finances a wide range of condotel properties, including those located in popular tourist destinations and resort areas. Contact us to discuss your specific property.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
