8999. Toll Free: 1-888-667-1772. with a major in real estate will also qualify. 2br - 1100ft² - Condo for sale in Little River, South Carolina. NMLS ID #93265. Condotel financing is back. Was approved for $80k to purchase a beach rental property to come and find out that the loan cannot be used to finance a condotel. Sun everyday, beautiful Condo North 702. The Best CONDOTEL Financing. com. Text us for a faster response. Was approved for $80k to purchase a beach rental property to come and find out that the loan cannot be used to finance a condotel. Applicability. If you are frustrated and have been searching for the best Myrtle Beach mortgage companies, Jerry Pinkas Real Estate Experts has many local connections and some of the best options for home financing. South Carolina Condo Hotel Financing. $239,900. Condotel financing is back. Resort, Airbnb, Daily Rentals acceptable. Experience stress-free financing today! (866) 803-2853. Department of Housing and Urban Development | 451 7th Street S. 8999. Explore our range of condotel financing solutions designed to simplify your investment journey Flexible Condo Hotel Loans. We offer a variety of mortgage options: Conventional Mortgages. recent paycheck stubs. • 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. Free Wifi. Toll Free: 1-888-667-1772. 00. Qualification based on Property Income, Not Your Income. 438. Condotels are condominium projects, which are individually owned and operated as a hotel. Get the latest updates on our loan solutions, webinars, tradeshows, events, and. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ;. About Us. The units are located within a building that has the amenities of a hotel, including a front desk as well as a cleaning staff. Brokered by Better Homes and Gardens Real Estate Elliott Coastal Living. Condotels at Coldstream Cove: This is an adult residential neighborhood with a few rental properties that are not welcomed. Mortgage rates for condos and other types of properties have been volatile in recent years. For those who need condotel financing, please contact us at Gustan Cho Associates at 262-878-1965 or text me on my cell for faster response at 800-900-8569. 5% down payment for a home purchase. other documentations. 1. Morant Properties, the developer, hopes to help with that growth. 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. Second-home financing requires a 10% down payment. Are you pet friendly! Answer from Doug M. are experts in condotel financing and originating non. are experts in condotel financing and originating non-warrantable condominium mortgages, condohotel loans and The Best Condotel Mortgage Lender. Solutions is what they are about. Golf colony resort 5p. Zip Code. 575 or greater credit scores. Investment. net. It was a nice room close to the pool with a. Minimum down payment of 15%. The minimum loan size is $100,000, and the maximum is $3,000,000. 7. This is the main reason that I would NEVER recommend that a buyer use an out-of-town lender when financing a. Condotels at One Ocean Place: Fabulous Holiday - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. More Details. Text us for a faster response. NMLS #5645 ǀ AZ Lender #BK-0906866 #MLB5645 On Q Financial, Inc. Is This Your Tripadvisor. It refers to a type of property that combines elements of both condominiums and hotels. These could have serious impacts on getting loans in South Carolina, especially in coastal beach towns like Myrtle Beach where highrise oceanfront condos are so integral to their economy. 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. The condos range in size from 1,800 to 2,800 square feet. USDA. The team at Gustan Cho Associates are specialists in condotel financing in Florida and California as well. There are, however, a few external. Main Office: 1320 Airlie Road | Wilmington, NC 28403 910. First Home Equity Loans is a resource for many different loan types for investors, including Condotel Financing. Investment property loans Commercial & Residential Condo Hotel Loans. Condotels are condominium units situated within a condo 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. Visit hotel website. Condos for Sale: Condos for Sale • Little River Condos • Myrtle Beach Condos • Mt Pleasant Condos • Isle of Palms Condos • Wild. Condotels at One Ocean Place: Very nice condo building. Skip until happy. 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. Gustan Cho Associates is one of a few lenders that offer condotel financing. Loan Amount Range: From $100k up to $4 million. $194,500 and up - Condo Hotel. Investment property loans Commercial & Residential Condo Hotel Loans. 1 Beds. But it is a problem I almost guarantee you'll run across if you're financing a. Minimum Credit Score: 575. Senior homeowners may qualify for a homestead exemption that allows the first $50,000. 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. For your protection, do not email your Account Number (s) or Social Security Number. To qualify, you’ll need to establish a certain minimum credit score and debt. Fannie Mae Updated Condominium Lending Guidelines. 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. info. Florida Coop Financing Requirements: Max 80% LTV [ 20% minimum down payment ] Second Home and Investment Properties allowed. Tiffany's Condotel, Surf City, North Carolina. When a project as a whole, functions more like a vacation rental resort, the building is ineligible for. CCNB offers special rates and terms specifically for condotels that include fixed or adjustable rates with as little as 25% down on second homes and 30% down on investor properties for qualified buyers. Refinances – unit owner must have Coop Stock. (843) 903-3550. NEO Home Loans is pleased to announce our new Condotel Program designed to accommodate the purchase […] Immediate Help: (801) 893-0697. 2507 S Ocean 1/13 Blvd Unit 905. The Team at Lending Network, LLC Is Available Seven Days a Week, Evenings, Weekends, and Holidays. 702 sq ft. 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. 3910 Highway 17 South. Owners of condotel. (3) "Listing agent" means a real estate licensee who represents. Condotel Mortgage / Condo-Tel Financing / Condops A condominium project that is operated as a hotel with a registration desk, cleaning service and more. 60 days bank statements. Or email gcho@gustancho. 1 bath. Condo Hotels are very popular in the state of Florida. , A151 Myrtle Beach SC 29575 Listed By CENTURY 21 The Harrelson Group. Coral Beach Bldg. Rates typically run a half-percent. Condotel and Non-Warrantable Condo Financing are 30 year adjustable rate mortgage portfolio loans. No appointments necessary. 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. 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. Condotel Unit buyers interested in getting qualified for Condotel Financing, please contact Gustan Cho Associates at 800-900-8569 or text us for a faster response. 1 bed. Conway, South Carolina 590 contributions 307 helpful votes. Multifamily 5 to 8 Units Financing. com. 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. No doc mortgage loans where tax returns and income verification is not required. Investment property loans Commercial & Residential Condo Hotel Loans. (1) "Commission" means the South Carolina Real Estate Commission. North Myrtle Beach Branch. Listed is all The. With so much to see and do in Myrtle Beach, you’re sure to have a memorable vacation. Condo For Sale In Myrtle Beach, South Carolina. . 1625 S Ocean Blvd Unit 1802. A condotel is a. 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. com®. If you decide to invest in a short-term rental property in a condotel, here are four tips for getting started: 1. Call ☎ (800) 697-4371 info@afbcarolinas. This ground level 2-bedroom condo is located in the popular Seagate Village. 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. Loan amounts up to $6 Million. (1985 (Reg. Learn more about local market trends & nearby amenities at realtor. California home buyers with credit scores as low as 580 FICO can now qualify for California home loan with bad credit. Condo Guide for North and South Carolina, Florida and Georgia including oceanfront luxury condos and villas for sale plus condo hotels. Finance; Get Social. Condo-Tel financing is available. The minimum loan amount must be 10000$. For current trends in South Carolina’s real estate investment market, visit Zillow or Trulia. Main Office: 1320 Airlie Road | Wilmington, NC 28403 910. Or email us at gcho@gustancho. Qualification based on Property Income, Not Your Income. Whether you're a. Management of your condotel unit, its building, and the surrounding amenities is key to your revenue potential and ensuring that your unit is a solid investment. Atlantic Beach currently faces one of the highest tax rates in Horry County. Borrowers can also email us at gcho@gustancho. Contact Gustan Cho Associates at 800-900-8569 or text for faster response. Stay tuned for more insights and knowledge on condotel financing! Let's Talk Mortgage 1,778 follower + Subscribe. COMMERCIAL. Dec. 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. 5), this property has a DSCR of 1. Building or project needs to be more than or equal to 50% for commercial – this will be determined by the appraiser. First Last. More Details. No Income Verification, No Tax Returns. Note: Easy Street Capital’s current minimum loan amount is $75,000 for a DSCR Loan. Atlantic Beach currently faces one of the highest tax. A list of local lenders and contacts who can provide traditional financing for condos and condotels in South Carolina, based on the type of loan and the characteristics of the. South Carolina. Get ongoing access to funds with a home equity line of credit by itself or combined with a first mortgage. More than one person may own apartment. Address: 1990 N Waccamaw Drive. Get the scoop on the 1474 condos for sale in Myrtle Beach, SC. Petersburg CONDOTEL Financing. Owners use short-term rentals to generate income, listing them on platforms. 5 million. Free parking. large rooms 4 bedrooms all with bathrooms only negative very old appliances and no TV's in. Miami Beach Condo Mortgages. 991 38th ave n, myrtle beach, sc, 29577. - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. The units are […] Project Standards Requirements - Condotels. Less than 10 units, up to two FHA-Insured units. Or email us at gcho@gustancho. Rental Income. 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. Full kitchen (kitchenettes are not allowed) Minimum loan size is $100,000 and the maximum loan size is $3 million. It is similar to a hotel in that many times the building actually looks like a hotel, but each individual unit is. Address Line 2. You Are Trusting Us With Getting Your Commercial Loan Closed, We Return Your Faith and Trust Back By Being Available 365 Days a Year. If you think that condotel ownership may be for you, we can help you apply for competitive condotel financing in Miami or the surrounding region. Home Spring Mortgage offers non-QM condotel loans with. 4550 The Loan Process; Reverse Mortgages; Government Loan Programs; Mortgage Loans. Orlando, FL – New Pre-Construction Condo Hotel. APPLY NOW. A law degree or B. Borrowers can also email me at gcho@gustancho. The down payment requirements are significantly lower on second home financing versus conventional investment home financing. 1 bath. Whether you're a seasoned investor or a first-time buyer, our condotel properties provide a unique opportunity to maximize your returns while enjoying an exceptional lifestyle. The following are the criteria in which properties would be allowed for condotel financing: The units need to have a full kitchen and a separate bedroom. CENTURY 21 Real Estate › South Carolina › Myrtle Beach Homes for Sale › Myrtle Beach Condos for Sale. FHA loan limits in many parts of California is $679,650. Typically, each of the units within a condotel is sold to an individual owner. 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. • Cash-out is allowed up to $3,000,000 with no seasoning required. 2 Beds. com. Grateful in Advance - thanks!Condotels at Surfmaster: Surf Master in Garden City Beach, S. Our mortgage lenders will gladly review your unique situation and find a flexible solution that best fits your lifestyle. 3 bed. These units are designed for short-term rentals and offer amenities that rival those offered by five-star hotels. The rates and monthly payments shown are based on a loan amount of $464,000 and a down payment of at least 25%. COMMERCIAL. Points. The. Text us at 407 955 4575. Our Mortgage Experts. 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. 788%. If you have any questions on second home mortgage loans please contact us at 800-900-8569 or text us for a faster response. Not many traditional lenders will allow condotel mortgages due to their increased risk. The company has proposed what’s being called a “condo-tel” along South Ocean Boulevard between 30th and 31st Avenue South. Visit Learn About Project Standards to see. Apply Now and Get a Quote Today! Get more details. Up to 75% LTV on bridge loan loan amounts between $1,000,000 to $1,500,000. A new modern luxury condo hotel is now being offered on the tree-lined shores of serene Lake Austin, with access to a local resort with…. FHA loan limits in many parts of California is $679,650. (866) 803-2853. Homes For Sale By Owner In South Carolina4487 Results Available. Condotel. Wow! I did. $101,000. Unlike Fannie Mae and Freddie Mac, Condotel, and. Typically, a minimum down payment of 20% will be required. 5 of 5 at Tripadvisor. Alabaster, Shelby County, AL . 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. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy. S. The loan to value is 97. In Part 2 of our blog series on condominiums and condotel financing, we explored the exciting investment potential of condotels. South Carolina 864. Cash-out refinance mortgage loans on a manufactured home requires a loan to value. on 47 acres between 29th and 32nd avenues south,. Listed By Owner, douglas fournier. A condohotel, or a condo hotel as it is also called, is a unique type of residential and rental property. A condotel operates just like a hotel and hosts short-term guests. Some lenders may go as low as $55,000. Deferred payments to start. Since DSCR equals income divided by payment ($1,500/$1,000=1. Top 10 Most Affordable Cities in South Carolina Jul 24, 2023 This BLOG On Florida Condotel Purchase Loans Was UPDATED On October 29th, 2018. 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. This process is known as a Non-QM or Portfolio Loan. Rental Income. Oceanfront condominium guide for Florida, South Carolina, and North Carolina cities. 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. Whether you’re a seasoned mortgage broker or just starting in the industry, this webinar will provide you with valuable insights and strategies to excel in this dynamic market. Better rates available for 70 percent financing and less. Ccnb offers special rates and terms specifically for condotels that include. Condotel Financing Solutions: Unlock Your Dream Investment in Myrtle Beach. Purchase loan-to-values (LTV) (down payments) are identical for a primar residence. This FAQ document provides responses to common questions related to Fannie Mae’s project review methods and policies for determining project eligibility for mortgages secured by units in condo, co-op, and planned unit development (PUD) projects. com (800) 697-4371 facebookAverage home values in the state are currently about $158,900. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ; Condotels at Surfmaster;Condo Listings for Rent. The list includes American Financial Network, CCNB, Movement Mortgage, Edge Home Finance, Ameris Bank, Conway National Bank, Guild Mortgage Company, Homebridge Mortgage, Neighborhood Loans, New Wave Lending and Union Home Mortgage. A condotel is a combination of a condominium and a hotel and is a unique type of property ownership. #10 of 80 Restaurants in Surfside Beach. The units are located within a building that has the amenities of a hotel, including a front desk as well as a cleaning staff. 386 sqft. 29577, Myrtle Beach, Horry County, SC. 05:59. Comfortable & Spacious. Sess. Source: acmg. Nationwide Mortgage & Realty, LLC. Here are the highlights of our Condotel program: Borrowers must have a minimum credit score of 680. 4 - 8 Guests 2 - 3 Bedrooms 2 - 3 Bathrooms. North Myrtle Beach, SC 29582. HomeBridge announces more relaxed guidelines for CONDOTEL financing in South Carolina!In response to the June 2021 collapse of an oceanfront tower near Miami, mortgage giants Fannie Mae and Freddie Mac are rolling out new rules covering condo loans – and. 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. If you are considering investing in a condotel and wondering whether now is a good time, this is the best advice we can give those who are looking for a condotel mortgage in South Carolina. 21, 2006 - PRLog-- Existing Lancaster Tower I unit owners in Metro Manila, Philippines, whom are currently availing of Pacific Concord Properties’ in-house financing for Lancaster Suites Condotels have the option to pay off their units in 144 months. View photos of the 106 condos and apartments listed for sale in Charleston SC. North Myrtle Beach, SC 29582. Condotels give you all the comfort of owning. City. 00 or as much as $3,360. com. We serve all 50 states so we can help you no matter where you or the property is located in the United States. Max 65% LTV Refinance. SkyWheel Myrtle Beach. 3. 8999. 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%. Condotel financing, investment, vacation, and second home financing available for cash out and purchase. The coastal south carolina city of myrtle beach is one of the top travel destinations in the nation. Or email us at gcho@gustancho. 843-839-9870Condotels at Surfmaster: Surfmaster Unit #1010 - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. Caravelle is an Oceanfront Condo Complex in Myrtle Beach, SC. Homes are listed on the market for around $244,990, and are closing for about $173,400. Currently, the condotel purchase market in South Beach, Panama. 2 bath. 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. 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. For those who need condotel financing, please contact us at Gustan Cho Associates at 262-878-1965 or text me on my cell for faster response at 800-900-8569. Get Started. Non-warrantable condos are usually properties like time shares, condo hotels (condotels) and buildings that require owners to join an organization. It’s a type of living space similar to an apartment, but can be sold separately. Available 7 Days/Week MON - FRI 8am - 7pm SAT - SUN 10am – 6pm Call us (407) 955-4575. Long-Term Fixed or ARM Rates. The team at Gustan Cho Associates are specialists in condotel financing in Florida and. com. Condotels at One Ocean Place: Vacation - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. As an investment owner, you are not a primary resident. Condotel purchase on the beach - Myrtle Beach User Name: Remember Me: Password : Myrtle Beach - Conway area Horry County Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. Need Condotel Financing in Aspen, Snowmass Village, Steamboat Springs, Telluride, Vail? We have condotel programs that allow: up to 75% financing on condo-tels to $2. Borrowers can also email us at gcho@gustancho. Condotels make great investments in touristy areas where they. repeat 0. Homebuyer’s Guide on What To Do After Getting Mortgage Denial After Conditional Approval Borrowers Guide. Not ready to buy yet?Join us for an in-depth webinar where we will delve into the world of condominium and condotel financing. Listing courtesy of Listing Agent: Michele Blase () from Listing Office: Realty ONE Group Dockside. Available financing for vacation and 2nd homes up to 85% loan to value to $3,000,000. Top 10 Most Affordable Cities in South Carolina Jul 24, 2023 Mortgage Mavericks: Scott Schang Jul 18, 2023. With an automated approval renders an automated approval after analyzing the following documents: two years of tax returns. Reed is the Principal of Myers Capital, a twenty-year old mortgage lending company located in downtown Honolulu, Hawaii and Greenville, South Carolina. Condotels are classified as non-warrantable condos. Find oceanfront condos for sale in Myrtle Beach, SC like a real estate agent! Exclusive access to condominium listings near the ocean in Myrtle Beach, South Carolina!Lending Bankers Mortgage Specializes in Condotel Loans in South Florida. South Carolina and the Greater Myrtle Beach area. 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. The price per square foot is about $126. This article was provided by Oren Orkin of Capital Funding Mortgage Company, LLC, a residential and commercial lender that can provide financing for condo hotel units. 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. Most lenders shy away from condotel financing. 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. Get ongoing access to funds with a home equity line of credit by itself or combined with a first mortgage. One such specialized space is condotel financing, which involves mortgage loan arrangements for purchasing condominium units operated as hotels. In the example used above, the property brings in $1,500 monthly with a monthly payment of $1,000. This chapter shall be known and may be cited as the North Carolina Condominium Act. THE OCEAN FOREST COMPANY. 3 bed. South Carolina. The good news is that finding an affordable and desirable property to rent in Myrtle Beach, SC -- whether it’s. Condotels at One Ocean Place, Garden City Beach: 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. 1 Percent Lists 123 Terrabella Blvd Suite 2C Covington, LA 70433 O: (877) 417-3723 M: (504) 875-6599 1 Percent Lists Franchises, LLC sells real estate franchises across the United States. Gustan Cho Associates has lending relationships with over 210 wholesale mortgage lenders. Once received, we will review your credit profile. SOUTH CAROLINA CONDOS. Homeowners who own a personal residence, the new Condo-Hotel unit can be classified as a second home which requires 25% down payment. Top 10 Most Affordable Cities in South Carolina Jul 24, 2023 6. SEARCH OUR SITE. It offers short-term rentals for occupants, and it also maintains a front desk. For sale. (DSCR is always expressed as a decimal. 212 reviews. Dec. Up to 65% LTV on bridge loan for amounts between $1,500,000 to $2,000,000. 4999 Carolina Forest Blvd, Suite 12, Myrtle Beach, SC 29579. 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%. 1% in 2019. Coral Beach is an award winning oceanfront resort with excellent rental income! This oceanfront one bedroom has. However, lenders like myself specialize in Condotel financing from $100,000 up to over $3,000,000 nationwide. You now are aware of some of the advantages and drawbacks of investing in a condotel. North Myrtle Beach, SC 29582. Condotel Financing Program Features Offering conventional and portfolio loan options Available for second home and investment properties Team of condotel specialists that. Gena: We’re using the term “condotel” to include a broad group of properties which typically have one or more “Hotel” type characteristics. Typical features could include an onsite rental office; onsite commercial space (s) such as restaurants, day spas, convenience stores, etc. A condotel, or condo-hotel, is a unique style of property ownership that operates as both a residence and a rental unit. 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. Address Line 2. Today we explore the World of Condotel Financing and discover the benefits and drawbacks to consider. But it is a problem I almost guarantee you'll run across if you're financing a. Find out the loan to value, credit,. Florida CONDOTEL Financing.