financing on the most prestige's Condo-Hotel projects in South Florida. 1,210 sqft. Sess. Condotel Financing Program Features Offering conventional and portfolio loan options Available for second home and investment properties Team of condotel specialists that. We. ”. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ;. Condotels at One Ocean Place: One Ocean Place One Fantastic Place - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. It is similar to a hotel in that many times the building actually looks like a hotel, but each individual unit is. Low rates and flexible payment terms come standard with all South Carolina Federal auto loans. Golf colony resort 5p. Get Started. With a private balcony, these level 3 condominiums are angle oceanfront units. Borrowers can also email me at gcho@gustancho. You Are Trusting Us With Getting Your Commercial Loan Closed, We Return Your Faith and Trust Back By Being Available 365 Days a Year. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ;. 758. Up to 65% LTV on bridge loan for amounts between $1,500,000 to $2,000,000. 575 or greater credit scores. SOUTHERN COAST INSURANCE GROUP INC 4420 Oleander Dr Ste 104 Myrtle Beach, SC 29577 Get Map Phone: 843-839-5076 Fax: 843-353-0785 Contact UsProject Standards Requirements - Condotels. recent paycheck stubs. Portfolio Lenders can finance these types of Condos; Not all lender wants to take a risk for these types of Condos; What is a Minimum Down Payment For Condo. South Carolina Beachfront Condos & Villas For Sale listings have an average sales price of $342,818 ranging in price from $24,000 to $1,599,000. 25% down payment, 75% loan to value, is required for primary and second condotel unit buyers. The Team at Lending Network, LLC Is Available Seven Days a Week, Evenings, Weekends, and Holidays. Address Line 2. 2 bath. Condominiums are usually divided. Alabaster, Shelby County, AL . New Changes To Condo Lending as of Dec 7th, 2020. Purchase, Rate Term and Cash-Out Refinance options available. Condotels at One Ocean Place: Perfect Vacation!!! - unit 1210 - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. info. I am a Realtor who owns. Today we explore the World of Condotel Financing and discover the benefits and drawbacks to consider. At least 50% owner-occupancy. Safe area of Garden City , yet close enough for a quick drive to anything you could need or want. We specialize in Condo Loans Financing for Warranted Condo Loans, Non-Warranted Condo Loans, Condotel Condo Loans, Primary Condo Loans and DSCR investment Condo loans for long and short term rentals. 207 28th Ave N #25, North Myrtle Beach, SC 29582. Full kitchen (kitchenettes are not allowed) Minimum loan size is $100,000 and the maximum loan size is $3 million. Enjoy all the. (843) 839-1649. I understand that the cost for the Condo Questionnaire will vary according to the requested Condo/Condotel Development, generally this fee charged is between $150. Investment property loans Commercial & Residential Condo Hotel Loans. 5905 South Kings Hwy. 00. NMLS ID #958660. W. It is considered real estate. Condotel Financing Mortgage Guides Require 25% down zahlung, 680 FICO, 43% liabilities to income ratios for first and second condotel units. The median price for homes in South Carolina varies dramatically from one county to the next. Financing condominiums in Myrtle Beach can be a very tricky process. Click here to get started or call our main branch (866) 418-9219 to speak to a CCNB mortgage specialist. 256. other documentations. Several financial pros come with retiring in South Carolina. You can click on the button below or apply online; if you prefer to speak with one of our Mortgage Experts, we would be happy to speak with you at 888-259-2257. Are you pet friendly! Answer from Doug M. Condotel loans are a specific type of mortgage loan for condotel units, which are a mixture of a condo and a hotel. 604 N 27th Ave, Myrtle Beach, SC 29579. If you have any questions on second home mortgage loans please contact us at 800-900-8569 or text us for a faster response. No Income Verification, No Tax Returns. Campobello, South Carolina 1 contribution 1 helpful vote. HomeBridge announces more relaxed guidelines for CONDOTEL financing in South Carolina!Browse photos and listings for the 33 for sale by owner (FSBO) listings in Myrtle Beach SC and get in touch with a seller after filtering down to the perfect home. For a list of condo hotels in Miami and Miami Beach, please. • Cash-out is allowed up to $3,000,000 with no seasoning required. Typically, a minimum down payment of 20% will be required. City. Buying this sort of property is close to buying a traditional condo. Investing in a condotel property can be an excellent opportunity for individuals seeking a lucrative. Are you considering real estate investment in a vacation…Navigating Financing Challenges for Condotel Investments Aug 21, 2023. Mortgage rates on investment home financing are about. Explore our range of condotel financing solutions designed to simplify your investment journey Flexible Condo Hotel Loans. Condotels at Surfmaster: Awesome Beach Vacation! - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. 1. We offer 3/1 ARM, 5/1 ARM, and 7/1 ARM Condo Hotel Mortgage Loan Programs, amortized over 30 years. Condotels at Surfmaster: Surfmaster- ROOM 412 is the BEST! - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. The condotel must have at least 500 square feet of living area. 2001 S Ocean Blvd #1304, Myrtle Beach, SC 29577. More finance insights;. Investment property loans Commercial & Residential Condo Hotel Loans. Available financing for vacation and 2nd homes up to 85% loan to value to $3,000,000. Demise Of Condotel Financing After Real Estate Meltdown. Condotels at One Ocean Place: Never Again! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. (843) 903-3550. Max 65% LTV Refinance. – LendSure will calculate the income for you and provide an extensive, common-sense pre-qual within 24 hours. $639,900. Condo-hotels buyers are usually required to put a minimum of 20% down payment although a higher down payment could be required on a larger purchase price. ARM and 30 Year-Fixed Options available. North Myrtle Beach, South Carolina. At around $200 to $240 per square foot, it is about 57% as expensive to build a barndominium compared to a regular 2×4 framed home. 1,700 sqft. Condotel unit buyers and commercial real estate investors who have any questions on Condotel Financing and/or commercial loans, please contact us at 800-900-8569 or text us for a faster response. Balloon payment due in 6 months with. - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Skip until happy. owner financing available! no need for traditional condotel financing hassles! direct oceanfront full 1 bdrm, 2 queen beds plus murphy bed-full kitchen! coral beach resort is continually v Yes, You Can Get Condotel And Non-Warrantable Condo Loans. Listen to this article 3 min. 8999. Owners of condotel. North Myrtle Beach, SC 29582. CONDOTEL. 7100 N Ocean Blvd #1126, Myrtle Beach, SC 29572. $24,000. However, the cost of building a barndominium in South Carolina is much less. It is similar to a hotel in that many times the building actually looks like a hotel, but each individual unit is. Tel: 844-953-0100 Email: info@nationwidemtg. Make sure that the management and. The difference in financing condominiums compared to single family homes is that lenders have to get the property approved in addition to merely approving the borrower. favorite_border 0. The price tag for a vacation home in a popular resort area can be astronomical. 00 and $350. Our experts can help you with the premier mortgage. Is This Your Tripadvisor. 05:59. Note: Easy Street Capital’s current minimum loan amount is $75,000 for a DSCR Loan. You Are Trusting Us With Getting Your Commercial Loan Closed, We Return Your Faith and Trust Back By Being Available 365 Days a Year. Or email us at gcho@gustancho. 5% down payment for a home purchase. As of Wednesday, November 22, 2023, current interest rates in South Carolina are 7. Condotel financing, investment, vacation, and second home financing available for cash out and purchase. " Meaning they are a condo that is in what they consider a hotel. Let’s assume that the cost to purchase a condo is $250,000, in order to break even the hotel would need to charge $250 per night for your condo and rent out at least 60% of the time. The HOA will have to have hurricane (also known in SC as wind & hail), traditional hazard (fire usually), and flood insurances. Warrantable condos are one that a homebuyer can finance using a conventional mortgage, after having been approved under a set of guidelines set by government-sponsored enterprises Fannie Mae and Freddie Mac. Brokered by Dunes Real Estate. § 47C-1-101. Condotels are classified as non-warrantable condos. A 40% down payment is required for borrowers who have two or greater properties and need it as an investment home. On January 1, 2022, the updated Fannie Mae condominium lending guidelines went into effect. Condotels are typically multi-unit properties. Condotels at One Ocean Place: VERY Disappointed - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Condotels at One Ocean Place: Unit 608 Was Perfect! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. $35,000. Identify clients with a FICO score of 700 or higher who are seeking Non-QM financing options. North Myrtle Beach, SC 29582. com or visit us at Gustan Cho NMLS 873293 is the National Managing Director of NEXA Mortgage, LLC dba as Gustan Cho Associates NMLS. As an investment owner, you are not a primary resident. 114. The team at Gustan Cho Associates is available 7 days a week,. This ground level 2-bedroom condo is located in the popular Seagate Village. Financing is available when you are looking to purchase a unit in a condotel but it is often more limited than when looking. Atlantic Beach currently faces one of the highest tax rates in Horry County. 843. A: I do not support the development of the 21-story condotel. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy bed-Full Kitchen!! Coral. What benefits do I get if I invest in a condotel? Quarterly dividends. Second-home financing is conventional loans and conforming Fannie Mae Guidelines On Second Homes apply. View property. Article 1. To qualify for condominium mortgage loans, please contact us at Gustan Cho Associates Mortgage Group at 800-900-8569 or text us for a faster response. Navigating financing challenges in condotel investments requires creativity, diligence, and a thorough understanding of the market. Atlantic Beach currently faces one of the highest tax. Up to 75% LTV for Purchase Loans. Minimum Down Payment: 30%. Condotel Mortgage / Condo-Tel Financing / Condops A condominium project that is operated as a hotel with a registration desk, cleaning service and more. This is a unique option because rather than selling the loan to Fannie Mae, we fund and service the loan, meaning you will receive your monthly mortgage statement from us, and make payments to us. ) § 47C-1-102. Flood Insurance Coverage Calculator. Step 2: Follow the Condo Project Review Type Requirements. At times in 2022 and 2023. North Myrtle Beach, SC 29582. Qualification based on Property Income, Not Your Income. Use our mortgage calculator to see how much it would be to finance a home in Myrtle Beach. Generally speaking, only lenders with in-house programs designed for condotels can finance condotels. A&D Mortgage LLC is licensed by. One such specialized space is condotel financing, which involves mortgage loan arrangements for purchasing condominium units operated as hotels. Source: acmg. Discover the perfect blend of real estate investment and luxury hospitality with our exclusive condotel offerings. A condotel essentially is a condo that can be rented either by the night, the week, the month or multiple months, and is similar to that of a resort as the building has a front desk where people can walk up to book or rent a unit. second year in a row here !!! The owners of this Condo 702 have went overboard to make your stay enjoyable and better than your own home. According to a study that evaluated condo-hotels in the Florida state and projected returns over a five-year period from 2006 to 2011 the return rate is usually 1%. Condo hotels are typically high-rise buildings developed and operated as luxury hotels, usually in major. The team at Gustan Cho Associates is available 7 days a week,. Condotel and Non-Warrantable Condo Financing are 30 year adjustable rate mortgage portfolio loans. 3763 Sweetgum St Unit 3763, Myrtle Beach, SC Details ». 5% down payment for a home purchase. Known for an endless array of restaurants, shopping, entertainment, and miles of sandy beaches, the Grand Strand is a major tourist destination with more than 14 million visitors flocking to Myrtle Beach, its primary city, each year. There was a time for the past three years that not a single mortgage lender would touch a Condotel unit. 3 bath. 5. Or email us at gcho@gustancho. Call ☎ (800) 697-4371Condotels at One Ocean Place: The nicest place that we have yet to stay at Garden City SC. Text us for a faster response. Pre-Sale Studio and 1 Bedroom Orlando Condo Hotel. Get a condo insurance quote online or call for advice. 3 bed. You can email us at gcho@gustancho. Nationwide Mortgage & Realty, LLC. The company has proposed what’s being called a “condo-tel” along South Ocean Boulevard between 30th and 31st Avenue South. " Meaning they are a condo that is in what they consider a hotel. The project must have at least five units. If you are interested in a condotel purchase loan or a condotel refinance mortgage loan please contact us at Non-QM Mortgage Brokers at 800-900-8569 or text us for a faster response. If you have any questions on second home mortgage loans please contact us at 800-900-8569 or text us for a faster response. Address Line 2. Call ☎ (800) 697-4371 info@afbcarolinas. Owner Financing available for qualified buyers. The down payment requirements are significantly lower on second home financing versus conventional investment home financing. Borrowers can also email us at gcho@gustancho. Gustan Cho. repeat 0. Condotel unit buyers do not own a home and rent and are purchasing the Condotel and that Condotel is the only property that can have it. Individual owners have units, but they have. As an example, a lender would offer 80% LTV (loan to value) up to a $350,000 loan; 70% LTV up to a $650,000 loan amount; and 50% LTV up to $1 million loan amount. More Details. have a fully functional kitchen. What is a Condotel? A condotel is just what the name sounds like: it is a combination of a hotel and condo. By Alison Gregor. Type Full Name Below: *. 810 3rd Ave S Corner 3rd Ave South and Poplar Drive South. It refers to a type of property that combines elements of both condominiums and hotels. Brokered by Better Homes and Gardens Real Estate Elliott Coastal Living. HomeBridge announces more relaxed guidelines for CONDOTEL financing in South Carolina!Browse photos and listings for the 33 for sale by owner (FSBO) listings in Myrtle Beach SC and get in touch with a seller after filtering down to the perfect home. 212 reviews. We would love to have a chance to connect you to a condotel loan which can serve your needs. . com. Generally speaking, only lenders with in-house programs designed for condotels can finance condotels. Step 2: Follow the Condo Project Review Type Requirements. Condotels at Surfmaster: Surf Master in Garden City beach, SC and hurricane Matthew - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. The minimum loan amount for DSCR Loans is going to vary by lender. How. 91% for a 30-year fixed mortgage and 7. is an equal housing lender. The manufactured home financing requirements need to be built on a solid concrete foundation. South Carolina Beachfront Real Estate For Sale listings have an average sales price of $1,607,157 ranging in price from $99,000 to $13,999,000. But it is a problem I almost guarantee you'll run across if you're financing a. 2 bedrooms. For Qualification, please review the following. To qualify, you’ll need to establish a certain minimum credit score and debt. *. Condotels at One Ocean Place: 3 bedroom condos oceanfront - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Book Condotels at One Ocean Place, Garden City Beach on Tripadvisor: See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place, ranked #2 of 10 specialty lodging in Garden City Beach and rated 4 of 5 at Tripadvisor. C. com. As for home appreciation, values have increased 5. 1,210 sqft. United States South Carolina Coastal South Carolina Garden City Beach. Use the filtering options available (number of bedrooms and bathrooms, square footage, year built, etc. Mortgage rates for condos and other types of properties have been volatile in recent years. 4 bds; 3 ba; 1,633 sqft - Condo for sale. Building or project needs to be more than or equal to 50% for. If you need to qualify for a condotel and non-warrantable condo loans, please get in touch with us at FHA Bad Credit Lenders at 262-716-8151. By the way, if the condo you are purchasing is not a condotel, It’s still best to. Compared to the rest of the country, SC has comparatively low property taxes, and social security benefits are exempt from taxation, offering attractive deductions on retirement income for residents. A short term loan used to finance the construction of your dream home that once built you can refinance. Homes For Sale By Owner In South Carolina4487 Results Available. A condohotel, or a condo hotel as it is also called, is a unique type of residential and rental property. Get started with a free quote today. California home buyers with credit scores as low as 580 FICO can now qualify for California home loan with bad credit. Orlando, FL – New Pre-Construction Condo Hotel. 967. These units are designed for short-term rentals and offer amenities that rival those offered by five-star hotels. South Carolina 864. A 2 bedroom angle oceanfront apartment can be about $185,000 to $225,000. View photos of the 106 condos and apartments listed for sale in Charleston SC. Call ☎ (800) 697-4371Myrtle Beach condotel financing guidelines made easy Our flexible options and expert guidance ensure a seamless experience. Condo. Your average annual premium will vary depending on your location, the coverage limits you select, and the deductible amount among other factors. The team at Gustan Cho Associates are specialists in condotel financing in Florida and. In such cases, the Loan-to-Value,. The Gustan Cho Team has NON-QM Loans for self-employed borrowers. 00. A condotel is just what it sounds like—a cross between a condominium and a hotel. Real Estate Investors and homebuyers can also subscribe to our newsletter at A condotel is a hybrid between a condominium and a hotel that lets owners enjoy the unit (and the property’s on-site amenities) themselves as well as generate income by offering it as a short-term rental property. 5 of 5 at Tripadvisor. 2318867 MLS. 2023. , A151 Myrtle Beach SC 29575 Listed By CENTURY 21 The Harrelson Group. Not many traditional lenders will allow condotel mortgages due to their increased risk. Get the latest updates on our loan solutions, webinars, tradeshows, events, and. • Immediate Florida Condotel – Condotel Florida rental income on the purchase of an investment property is allowed using 75% of the monthly rent schedule as documented by Form 1007 or 1025. (866) 803-2853. Address Line 1. First Home Equity Loans is a resource for many different loan types for investors, including Condotel Financing. Restaurants near Condotels at One Ocean Place, Garden City Beach on Tripadvisor: Find traveler reviews and candid photos of dining near Condotels at One Ocean Place in Garden City Beach, South Carolina. The units are located within a building that has the amenities of a hotel, including a front desk as well as a cleaning staff. He holds a Bachelor’s in Journalism and Mass Communications from the University of South Carolina. Owner Financing available for qualified buyers. If you are interested in condotel loans and non-warrantable condo loans, please contact us at Gustan Cho Associates at 800-900-8569 or text us for a faster response. The condotel needs to be 500 square feet with a minimum of one fully developed bedroom and kitchen. Warrantable condos are one that a homebuyer can finance using a conventional mortgage, after having been approved under a set of guidelines set by government-sponsored enterprises Fannie Mae and. This ground level 2-bedroom condo is located in the popular Seagate Village. HOA Budget 10% reserve requirement (or amount supported by reserve study). We’ll point out important items to help you understand what’s on your credit profile. Balloon payment due in 6 months with. #110 FRACTI, North Myrtle Beach, SC 29582. All of these amenities are managed and operated directly by the complex — usually a reputable hotel chain. South Carolina also has an income requirement to qualify for a first-time home buyer program mortgage. Contact Gustan Cho Associates at 800-900-8569 or text for faster response. Reed has been profiled in and written articles featured in Pacific Business News, The Honolulu Star Advertiser, The Greenville News and as a guest speaker on various radio talk shows. Answer 1 of 3: Business travelers, looking for recommendations for good hotel or condotel for extended stay for worker in Columbia, SC near BCBS / I-20 for 1 to 3 months stay, perhaps longer. No appointments necessary. Barefoot Commons Branch. 5), this property has a DSCR of 1. Full Doc, Alt Doc and DSCR. 702 sq ft. Gustan Cho Associates can get up to a 75% cash-out refinance loans for those Condotel unit owners who are looking to do a cash-out refinance on their second or vacation home Condotel unit. Hopefully, now you understand why your regime fees will easily be $400 to $1500 a month (depending on what condo development) you own. Share: 19 Properties in Myrtle Beach from $119,000. Wells Fargo Bank. A “condotel” is a portmanteau of “condominium” and “hotel. CONDO SPECIALISTS. But it boils down to whether or not you can rent the condo for 7 days or less, and it’s a daily rental. com (800) 697-4371 facebookAverage home values in the state are currently about $158,900. Fast Closing and Flexible Underwriting. ) to find Myrtle Beach, SC apartments for sale according to your specific needs. Condotel Financing Debt Guidelines Require 25% down bezahlen, 680 FICO, 43% debt the earned ratios for first and second condotel units. A condotel unit is a private condominium unit inside a hotel that an individual and entity owns. Oceanfront condominium guide for Florida, South Carolina, and North Carolina cities. Or email us at gcho@gustancho. Individual owners have units, but they have. If you decide to invest in a short-term rental property in a condotel, here are four tips for getting started: 1. Fannie Mae Lender Letter (LL-2021-14) specifically states that new guidelines are necessary to combat aging infrastructure and significant deferred maintenance in condominiums in the wake of. . Prequalify. Generally speaking, these loans are hard to obtain. Minimum loan amounts commonly fall in the range of $75,000 to $150,000 for most lenders. 00, with the average rent median estimated to be $1,250. Condotels at One Ocean Place: 902 One Ocean Place is Excellent! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Assessing Risks and Returns in Condotel Investments. Choose Homes by Amenity. If you've got a goal, we're here to help you meet it with affordable financing. Applicability. 877, s. Top 10 Most Affordable Cities in South Carolina Jul 24, 2023 This BLOG On Florida Condotel Purchase Loans Was UPDATED On October 29th, 2018. two years W-2s. Gena: We’re using the term “condotel” to include a broad group of properties which typically have one or more “Hotel” type characteristics. 9% over the past year, and are expected to rise another 7. My husband and I are looking to purchase some 1 bed 1 bath economy condotels. 75% of a refinance mortgage on a manufactured home. 1 bathrooms-19 days ago Homefinder. Max Loan $4M. Fidelity Home Group offers mortgages for warrantable, non-warrantable and condotel property types. Call ☎ (800) 697-4371 info@afbcarolinas. View property. However, lenders like myself specialize in Condotel financing from $100,000 up to over $3,000,000 nationwide. The Villas at Old South is a community of condos in Bluffton South Carolina offering an assortment of beautiful styles, varying sizes and affordable prices to choose from. GEORGIA CONDOS. Alpha Mortgage is licensed in North Carolina (L-113831), Virginia – Licensed by Virginia State Corporation Commission (MC-4927), South Carolina (#93265), Florida (MLD1700), Georgia (#93265), and licensed in Texas – SML Mortgage Banker Registration. Assisted Lendings is a group of professional business people joining together to offer investor cashflow financing. (866) 803-2853. 2507 S Ocean 1/13 Blvd Unit 905. Or email us at gcho@gustancho. More than one person may own apartment. Fidelity Home Group offers mortgages for warrantable, non-warrantable and condotel property types. These rentals, including the outside marketing of them, are handled directly by the management company. The Villas at Old South condos for sale range in square footage from around 1,000 square feet to over 1,400 square feet and in price from approximately $269,000 to $330,000. There is no maximum loan size on Condotel Financing Mortgage Loans. The minimum loan amount must be 10000$. Typical features could include an onsite rental office; onsite commercial space (s) such as restaurants, day spas, convenience stores, etc. NMLS #5645 These programs are available to only qualified borrowSouth Carolina property manager licensing requirements include: Age: must be at least 18 to be a property manager, and 21 to be a property manager in charge. I found Condotel Financing at competitive rates Types of Mortgages Available Principle & Interest Mortgage Options 30 yr 3/3 ARM @ up to 75% LTV (Lock for 3 Yrs. The minimum down payment is 3. Take control of your finances with a personal loan. Minimum down payment of 15%. In comes what we call our portfolio option for condotel financing. Now you can offer borrowers financing for their condotels – all with the program options and service levels that you’ve come to expect from LendSure. $101,000. For your protection, do not email your Account Number (s) or Social Security Number. But it is a problem I almost guarantee you'll run across if you're financing a. Broadway at the Beach. General - FAQs. Grand Strand Coastal Realty. The good news is that finding an affordable and desirable property to rent in Myrtle Beach, SC -- whether it’s. Step 3: Confirm the Condo Project Insurance Requirements. 1. com (800) 697-4371 facebookCondotel financing in Miami is one of our specialties here at Lending Bankers Mortgage. 1 bath 400 sq ft 201 74th Ave N #2636, Myrtle Beach, SC 29572 (843) 492-4030 Owner Financing - Myrtle Beach, SC Home for Sale OWNER FINANCING AVAILABLE!!!!! No. Up to. 4 - 8 Guests 2 - 3 Bedrooms 2 - 3 Bathrooms. Condo Hotels are very popular in the state of Florida. Special offer. Gustan Cho Associates is one of a few lenders that offer condotel financing. . Warrantable condos are one that a homebuyer can finance using a conventional mortgage, after having been approved under a set of guidelines set by government-sponsored enterprises Fannie Mae and. (1) "Commission" means the South Carolina Real Estate Commission. A condotel is an entire complex, which means that if one (or more) of the units are not maintained properly, it can reflect poorly on the rest of them and bring property values down. Main Office: 1320 Airlie Road | Wilmington, NC 28403 910. 0. Condotels at One Ocean Place: Vacation - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. To the average guest, a condo hotel unit might seem no different than a regular hotel suite, but the key difference is that it is individually owned. The rates and monthly payments shown are based on a loan amount of $464,000 and a down payment of at least 25%. We offer a variety of mortgage options: Conventional Mortgages. Condo For Sale In Myrtle Beach, South Carolina. A condotel owner purchases a unit within the property and uses it as a second home or vacation spot. Investment. The team at Gustan Cho Associates is available 7 days a week, on evenings, weekends, and holidays. Fidelity Home Group offers mortgages for warrantable, non-warrantable and condotel property types. Learn more. A condotel is a short-term rental unit in a condominium project generally found in resort-zoned and specific apartment-zoned areas. Owner Financing - Myrtle Beach, SC Home for Sale. Dec. Typical features could include an onsite rental office; onsite commercial space (s) such as restaurants, day spas, convenience stores, etc. Home Spring is aware of the increased risk, but as with most of our non-traditional loans, we are willing to give people a little more leeway and assume higher risk to help people realize their dream of owning a second property.