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condotel: Condotel Financing Available! - 04/29/09 07:00 PM
I have been getting a LOT of calls about financing condos in our area and throughout the Southeast. At this point, we have been told that if any of the following are present, the project is considered a "condotel":
If an underwriter can Google the name of the project and the city and finds that they can rent a unit for a short term there (ie: a day or a week), they are considering that project a condotel; If the project has the word "Resort", "Inn", "Hotel" or "Motel" in the legal name, it is being considered a condotel; If a … (4 comments)
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condotel: What Is a Condo-Hotel (Condotel)??? - 08/31/08 12:19 PM
Condominium Hotel (condotel) A condotel is a condominium project that operates as a commercial hotel. Therefore, while the units are individually owned, the building has temporary occupancy, rental or registration desks, telephone and catering services, as well as daily cleaning services. Condominium Hotel (condotel) - A condominium project that has rental or registration desks, short-term occupancy, food and telephone services, and daily cleaning services and that is operated as a commercial hotel even though the units are individually owned.
Condo-hotel
From Wikipedia, the free encyclopedia
A condo-hotel, also known as a hotel-condo or a Condotel, is a building used as both … (2 comments)
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condotel: September Special! - 08/29/08 10:47 AM
We are waiving our administrative fee ($150) and doc prep fee ($150) on all loan applications taken from September 1 through September 30, 2008. This includes primary homes, 2nd homes and investment properties, single family residences, townhomes and condos.
If you couple this fee waiver with today's low rates (6.25% 30 year fixed primary home single-family or townhome, no points, no origination fee, 100% financing with no monthly Mortgage Insurance or 6.5% 30 year fixed for an 80% conforming condo or condo-tel, 2nd home, no points, no origination fee) and your clients with be tickled pink! They will remember the Realtor … (2 comments)
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Sue Botelho-USDA Rural Housing Mortgage Pro
Fort Walton Beach,
FL
More about me…
Waterstone Mortgage Corporation
Address: 2 Park Circle, Suite A, Ft. Walton Beach, FL, 32548
Office Phone: (850) 362-6901 x 2
Cell Phone: (850) 797-7946
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