HISTORY: 1962 Code Section 57-498; 1962 (52) 1866; 1967 (55) 449. 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. Get started with a free quote today. Get Started. There was a time for the past three years that not a single mortgage lender would touch a Condotel unit. Are you pet friendly! Answer from Doug M. 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. Gustan Cho Associates, empowered by NEXA Mortgage, LLC, is licensed in 48 states. Call ☎ (800) 697-4371 info@afbcarolinas. Benjamin's Bakery, Cafe & Coffee Roaster. Condotel and Non-Warrantable Condo Financing. Condotel loans are. GEORGIA CONDOS. Several financial pros come with retiring in South Carolina. Assisted Lendings is a group of professional business people joining together to offer investor cashflow financing. Jumbo Mortgages/Adjustable Rate Loans. Prequalify. Get the scoop on the 1474 condos for sale in Myrtle Beach, SC. Check NC real-estate inventory, browse property photos, and get listing information at realtor. . 4856 Magnolia North Carnation Circle, Unit: 304, Myrtle Beach, SC 29577. PRIVATELY-OWNED condominiums with a tourist market hungry for accommodations that offer top-of-the-line amenities, condotels are as much a part of the. If you have any questions on second home mortgage loans please contact us at 800-900-8569 or text us for a faster response. Sea Mist Direct Oceanfront condo Efficiency. 741 sq ft. Multifamily 5 to 8 Units Financing. Fast Closing and Flexible Underwriting. Condo Guide for North and South Carolina, Florida and Georgia including oceanfront luxury condos and villas for sale plus condo hotels. When this occurs, we can offer. We will send you a secure online payment form to complete upon acceptance. House For Sale. • Cash-out is allowed up to $3,000,000 with no seasoning required. com. 201 S Ocean Blvd #905, Myrtle Beach, SC 29577. Orlando, FL – New Pre-Construction Condo Hotel. Mortgage rates for condos and other types of properties have been volatile in recent years. A condotel is a. If you have any questions about the content in this article or need to qualify for an FHA loan in South Carolina, please contact us at 800-900-8569 or email us at gcho@gustancho. Up to 75% LTV for Purchase Loans. South Carolina. Otherwise, it is $30 p/d. Mortgage rates for condos and other types of properties have been volatile in recent years. Get a quote Or, call 1-855-347-3939. Visit hotel website. You can find homes for as low as $245,000 in Richland County. Spartanburg, South Carolina 27 contributions 12 helpful votes. Learn about condotel financing mortgage guidelines, the condo hotel concept, and the best condotel mortgage lenders. Article 1. . Main Office: 1320 Airlie Road | Wilmington, NC 28403 910. A condotel operates just like a hotel and hosts short-term guests. Condotel Financing Mortgage Guides Require 25% down zahlung, 680 FICO, 43% liabilities to income ratios for first and second condotel units. Print . two years W-2s. Is This Your Tripadvisor. Las Vegas-based The Siegel Group, a real estate investment and management firm, is the new owner of a 191-room hotel off of Orange Blossom Trail just north of Florida. At Acorn, let the best loan offer find you on our secure and user-friendly platform. Call ☎ (800) 697-4371Condotels at One Ocean Place: Beautiful Place ! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. 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…. As an investment owner, you are not a primary resident. A condo hotel, also known as a condotel, hotel condo, or a contel, is a building that is legally a condominium but operated as a hotel, offering short-term rentals, and which maintains a front desk. Typical features could include an onsite rental office; onsite commercial space (s) such as restaurants, day spas, convenience stores, etc. Here are some additional details about Ocean Blue Resort: The resort has 12 floors and 120 units. Various Condotel Projects are popping up in Destin, South Beach, Panama City Beach, Palm Beach and Miami. A condo insurance policy protects what your homeowners association (HOA) doesn’t. Make sure that the management and. 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. Also, if you’re a real estate. When your ready to get started on our foreign national loan, we are experts to guide you through the entire process, the first step is getting you pre-approved. com. Program Details for Condotel Financing. Wells Fargo Bank. 1% in 2019. Condotels at One Ocean Place: One Ocean Place Place Rocks!! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Condotels are classified as non-warrantable condos. Condotel Financing Mortgage Guidelines And RequirementsFinancing options for condotel investment include bank loans, developer financing, and cash payments. *. A perfect beach retreat, Heron Pond is a condo complex on the north end of Myrtle Beach and a short walk to the ocean. 30 room nights free every year with an option to use 3 nights/year/other hotel of Sta. 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. LuciaThe average rent price in Myrtle Beach, SC, is $1,319. Angle oceanfront units are approximately $89,000 for one bedroom with a kitchen and a living room. favorite_border 0. South Carolina Beachfront Real Estate For Sale currently has ninety (90) for sale on MLS. net. Unlike Our Competition, We Do Not Believe In Having Banker’s Hours. Monthly listing updates and/or real-time notifications for listings, sales and market data Up-to-Date Local Lenders for conventional and condotel financing Yearly Closed Sales Price Histories for over 180 condo resorts (since 2009) Best team (Beach Pro Reviews) with the best company (RE/MAX Southern Shores). Each condotel is a part of a large-scale property that operates similar to a. . We are available 7 days a week: evenings, weekends, holidays as well. 1 Baths. 40% down payment on investment condotel. 4 bds. 10% minimum down payment is required. We now offer Condotel and Non-Warrantable Condo Financing which are portfolio loans with 25% down payment. 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. On January 1, 2022, the updated Fannie Mae condominium lending guidelines went into effect. #110 FRACTI, North Myrtle Beach, SC 29582. " Meaning they are a condo that is in what they consider a hotel. ) to find Myrtle Beach, SC apartments for sale according to your specific needs. Condotels at Coldstream Cove: This is an adult residential neighborhood with a few rental properties that are not welcomed. " Meaning they are a condo that is in what they consider a hotel. As for home appreciation, values have increased 5. , 1986), c. More Details. com. Most of the Myrtle Beach oceanfront high rises are condotels. 9% over the past year, and are expected to rise another 7. Condotels at One Ocean Place: DONT STAY HERE - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Officials acknowledged their vote was tied to a $100 million “condotel” project proposed along 30th Ave. Matthews, North Carolina (704) 858-3884; Posted Mar 9 2015,. The average cost of condo insurance in South Carolina is $579 a year or $48 a month with $1,000 as deductible, $60,000 in personal property coverage, and liability coverage of $300,000. For most banks and financing groups, it can take over a week to consider and evaluate your application. Pawleys Island,. Address Line 2. The units are […] Project Standards Requirements - Condotels. Choose an in-demand location. S. Subject property needs to be 100% residential (or livable) The units need. If you’re having trouble getting a condotel loan or financing a luxury condominium, you’re not alone. My husband and I are looking to purchase some 1 bed 1 bath economy condotels. How. Short title. 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. 1 Baths. Non-warrantable condos are usually properties like time shares, condo hotels (condotels) and buildings that require owners to join an organization. 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. Condotel Financing Program Features Offering conventional and portfolio loan options Available for second home and investment properties Team of condotel specialists that. Typical features could include an onsite rental office; onsite commercial space (s) such as restaurants, day spas, convenience stores, etc. Condotel Financing Florida Mortgage Rates; Today's Condotel Florida Mortgage Rates; Live Condotel Mortgage Rates. 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. Description Amenities Available Rentals. Cash-out refinance mortgage loans on a manufactured home requires a loan to value. SECTION 27-31-50. Balloon payment due in 6 months with. Fidelity Home Group offers mortgages for warrantable, non-warrantable and condotel property types. 1 bath. The minimal down payment is 3% for a primary residence, and grants are available to borrowers who qualify. (1985 (Reg. Sooner than you think, you could be the owner of a beautiful condotel unit in Miami!Get the scoop on the 159 condos for sale in Charleston, SC. 2507 S Ocean 1/13 Blvd Unit 905. Atlantic Beach currently faces one of the highest tax. You will be contacted by one of our experts to confirm your information and validate authorization. 5 of 5 at Tripadvisor. Re-Blog. Not ready to buy yet?Join us for an in-depth webinar where we will delve into the world of condominium and condotel financing. 1 Beds. Shout or Text: (800) 900-8569. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy. A condotel is a. , Washington, DC 20410 Telephone: (202) 708-1112 TTY: (202) 708-1455Here are some popular mortgage options: FHA, VA, USDA, Conventional Loans with No Overlays | W2 Income Only Mortgages | Manufactured Homes | Manual Underwriting | Mortgages Down To 500 FICO | FHA 203k Loans | Down Payment Assistance | ITIN and DACA | No Ratio Loans | 1099 Only Mortgages | Non-QM Jumbo Loans | 90% LTV. A 40% down payment is required for borrowers who have two or greater properties and need it as an investment home. View property. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ;. 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. The Team at Lending Network, LLC Is Available Seven Days a Week, Evenings, Weekends, and Holidays. ARM and 30 Year-Fixed Options available. 2. 3763 Sweetgum St Unit 3763, Myrtle Beach, SC Details ». The rates and monthly payments shown are based on a loan amount of $464,000 and a down payment of at least 25%. Skip until happy. (843) 903-3550. This rented condominium is situated on the Garden City Beach. Or email us at gcho@gustancho. The Team at Lending Network, LLC Is Available Seven Days a Week, Evenings, Weekends, and Holidays. Maximum LTV (loan-to-value) is often 60-75%. Home Spring Mortgage offers non-QM condotel loans with. Brokered by Dunes Real Estate. 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. 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. )We can be contacted several ways to help answer any questions you may have: Call us at toll free at 888 259 2257. Learn more. 25% down payment requirements for primary as well as secondary homes. The Best Condotel Mortgage Lender. If you are staying at a resort, you pay $20 per day. ”. But it is a problem I almost guarantee you'll run across if you're financing a. 4 bds; 3 ba; 1,633 sqft - Condo for sale. Generally speaking, only lenders with in-house programs designed for condotels can finance condotels. Read more here: AllProperties Latest Blogs. RE/MAX SOUTHERN SHORES NMB. Atlantic Beach currently faces one of the highest tax. Second-home financing requires a 10% down payment. Condotels are typically high-rise buildings which are developed and operated as a luxury hotel and are usually found in major resorts and cities. North Myrtle Beach, SC 29582. This ground level 2-bedroom condo is located. With an automated approval renders an automated approval after analyzing the following documents: two years of tax returns. At times in 2022 and 2023. Minimum down payment of 15%. Both the primary and proposed second home mortgage payments will be used to qualify debt to. What benefits do I get if I invest in a condotel? Quarterly dividends. Advertisement. , A151 Myrtle Beach SC 29575 Listed By CENTURY 21 The Harrelson Group. Our mortgage lenders will gladly review your unique situation and find a flexible solution that best fits your lifestyle. Condotels at One Ocean Place: Rude security and pool attendant, large condo- very outdated - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. 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. 8999. Projects that have no other condotel characteristics, but which permit unit owners to offer short-term rentals on a seasonal basis while they reside in the units. 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. At least 50% owner-occupancy. Florida CONDOTEL Financing. You have found the original full service, discount real estate brokerage, 1 Percent Lists, who is licensed in Louisiana and still owned and operated by. Free Wifi. Condotels; Project Reviews; PERS Submissions . In this article, we will discuss and cover condotel financing mortgage guidelines. Condotel financing was totally unheard of. However, lenders like myself specialize in Condotel financing from $100,000 up to over $3,000,000 nationwide. Flood Insurance Coverage Calculator. HOA Budget 10% reserve requirement (or amount supported by reserve study). Cash-out refinance mortgage loans on a manufactured home requires a loan to value. No minimum square feet. A 25% down payment is required on condotel second homes. Here are the highlights of our Condotel program: Borrowers must have a minimum credit score of 680. To qualify, you’ll need to establish a certain minimum credit score and debt. A Condo-Hotel, also known as a Condotel, can be a great investment for those who are looking for vacation second homes; Investment condotel units are also gaining popularity due to the. 201 South Ocean Blvd. (866) 803-2853. 8999. Miami Beach Condo Mortgages. 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. There are, however, a few external. 00 or as much as $3,360. com. Located at 1105 South Ocean Boulevard in Myrtle Beach South Carolina, Coral Beach offers easy access to all the major attractions in the area. Identify clients with a FICO score of 700 or higher who are seeking Non-QM financing options. The team at Gustan Cho Associates is available 7 days a week, on evenings, weekends, and holidays. 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. are experts in condotel financing and originating non-warrantable condominium mortgages, condohotel loans and The Best Condotel Mortgage Lender. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ; Condotels at Surfmaster;. 00. Orlando, FL – New Pre-Construction Condo Hotel. View Hotel. You Are Trusting Us With Getting Your Commercial Loan Closed, We Return Your Faith and Trust Back By Being Available 365 Days a Year. First Home Equity Loans is a resource for many different loan types for investors, including Condotel Financing. The condo can even be 5 miles from the “check-in desk”. 926. 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. large rooms 4 bedrooms all with bathrooms only negative very old appliances and no TV's in. Beaufort, Beaufort County, SC . City. Investment home financing on a single-family home requires a 15% down payment. Florida Condo Mortgage, Florida Condo Mortgage Rates, Non-Warrantable Condo Mortgage, Condotel Mortgage Financing, Florida Condo Loans. Each condotel is a part of a large-scale property that operates similar to a hotel, with a wide range of amenities and resort-style features. Condotels are condominium units situated within a condo hotel. By the way, if the condo you are purchasing is not a condotel, It’s still best to. Auto Loans. Listing courtesy of Listing Agent: Michele Blase () from Listing Office: Realty ONE Group Dockside. Alpha Mortgage is licensed in North Carolina (L-113831), Virginia – Licensed by Virginia State Corporation Commission (MC-4927), South Carolina (#93265. 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. We can offer both warrantable and non-warrantable condo financing. Condotel Financing. Investment property loans Commercial & Residential Condo Hotel Loans. When we met with a realtor, January 2021 he stated we could have 6-12k Condotel purchase on the beach - Myrtle Beach (Pawleys Island: short sale, oceanfront) - Myrtle Beach - Conway area - South Carolina (SC) -Horry County - City-Data ForumFHA Florida Condo Loan Spot Approval Requirements. Unlike Fannie Mae and Freddie Mac, Condotel, and. Or email us at gcho@gustancho. Trump International Hotel and Tower. ”. Condo For Sale In Myrtle Beach, South Carolina. Get the latest updates on our loan solutions, webinars, tradeshows, events, and. 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. CONDOTEL. (2) "Disclosure statement" means a residential property condition disclosure statement written on a form as required by this article and as promulgated by regulations of the commission. 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%. The price per square foot is about $126. Condotel loans are a specific type of mortgage loan for condotel units, which are a mixture of a condo and a hotel. Long-Term Fixed or ARM Rates. A short term loan used to finance the construction of your dream home that once built you can refinance. Senior homeowners may qualify for a homestead exemption that allows the first $50,000. FLORIDA CONDOS. However, at Commercial Real Estate Loan Pros of Tallahassee, we will get back to you during the first 24 to 48 hours and send a draft of the contract if we decide to approve the loan. Resort, Airbnb, Daily Rentals acceptable. Condo-Tel financing is available. Loan Amount up to $5,000,000; Purchase Up to 70% LTV; Cash Out Up to 65% LTV. Some lenders may go as low as $55,000. Condotel financing, investment, vacation, and second home financing available for cash out and purchase. 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. 5. 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. Learn more. Assessing Risks and Returns in Condotel Investments. 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. 1025 Highway 17 South. It’s complicated (but we can make it easy for you). are experts in condotel financing and originating non. Learn more about local market trends & nearby amenities at realtor. Learn more about how these rates, APRs and monthly payments are calculated. $189,000 and up - Condo Hotel. At times in 2022 and 2023. 1,700 sqft. Financing for new and used vehicles. Miami CONDOTEL Financing. 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%. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy. All you need is a credit check and either a down payment or refi equity. Documentation: Qualify with either a traditional full doc loan or a limited document bank statement-only loan. They do make for a great investment, because the summer months on the Crystal Coast bring A LOT of visitors! The second thing to consider when. Condo Hotels are very popular in the state of Florida. Or email [email protected] Mortgage Condo loans. View photos of the 106 condos and apartments listed for sale in Charleston SC. Get a condo insurance quote online or call for advice. How it works: LendSure’s Bridge Financing Program pays off the existing lien while providing the cash out needed for down payment on the new home. Condotel Financing Guidelines. Or email gcho@gustancho. $194,500 and up - Condo Hotel. Condos for Sale: Condos for Sale • Little River Condos • Myrtle Beach Condos • Mt Pleasant Condos • Isle of Palms Condos • Wild. Gustan Cho. The company has proposed what’s being called a “condo-tel” along South Ocean Boulevard between 30th and 31st Avenue South. Our mortgage lenders will gladly review your unique situation and find a flexible solution that best fits your lifestyle. In the example used above, the property brings in $1,500 monthly with a monthly payment of $1,000. It is similar to a hotel in that many times the building actually looks like a hotel, but each individual unit is. $575,000. The minimum down payment is 3. 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. 702 sq ft. 810 3rd Ave S Corner 3rd Ave South and Poplar Drive South. Loan Amount Range: From $100k up to $4 million. 05:59. Max 75% LTV Purchase. S Unit 816, Myrtle Beach — Coral Beach $170,000. com or visit us at No lender overlays. Comfortable & Spacious. The units are located within a building that has the amenities of a hotel, including a front desk as well as a cleaning staff. It was a nice room close to the pool with a. 9694. Refinances – unit owner must have Coop Stock. Fidelity Home Group offers mortgages for warrantable, non-warrantable and condotel property types. Here’s how to get your score: Complete the form below. At Fidelity Home Group, we are Condotel Financing Florida mortgage experts! The Condotel also known as the Condo Hotel is quickly becoming popular in Florida as an investment opportunity. United States South Carolina Coastal South Carolina Garden City Beach. Click here to get started or call our main branch (866) 418-9219 to speak to a CCNB mortgage specialist. Enjoy all the. $194,500 and up - Condo Hotel. 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 classified as an owner. If you have a property you are looking to purchase, or need investment advice to find a good investment, call us now at 866-500-4500, or fill out our request funding form and a loan specialist will contact you within 1 business day. Click here to get started or call our main branch (866) 418-9219 to speak to a CCNB mortgage specialist. Condotel Financing Debt Guidelines Require 25% down bezahlen, 680 FICO, 43% debt the earned ratios for first and second condotel units. Demise Of Condotel Financing After Real Estate Meltdown. As you can see from our program highlights, Allied First Bank of The Carolinas specializes in providing condotel financing solutions. Investment property loans Commercial & Residential Condo Hotel Loans. Condo For Sale In Myrtle Beach, South Carolina. 0. 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. Condotels at One Ocean Place: Great view, Great accommodations - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. We serve all 50 states so we can help you no matter where you or the property is located in the United States. North Myrtle Beach, SC 29582. On a case by case scenario, even if the rental income is claimed on the schedule E, the property can be classified as a second home. (DSCR is always expressed as a decimal. Special offer. Long-Term Fixed or ARM Rates. State. Many banks and mortgage bankers used to finance condotels prior to the collapse and many condotel unit owners still have condotel financing loans with big banks such as Wells Fargo, Chase, Citibank, Bank of America, and other local, regional, and national banks at high-interest rates. 1040 South Federal Highway, Hollywood, FL 33020. Orlando’s newest condo hotel is minutes from Disney’s theme parks and numerous other attractions. Encompassing six buildings with 380 units, this contemporary property includes amazing…. About Us. Over 75% of the borrowers of Gustan Cho Associates (Gustan Cho Associates) are folks who could not qualify at other lenders due. Step 2: Follow the Condo Project Review Type Requirements. Type Full Name Below: *. North Myrtle Beach, SC 29582. 1 Beds. A condotel is a combination of a condominium and a hotel and is a unique type of property ownership. DSCR = Income / Payment. A condo hotel (condotel) is a perfect way to buy a luxury holiday home without the conventional problems in ownership, such as upkeep of the property and attracting tenants while you’re not using it. North Myrtle Beach Branch. Industry-leading Bank Statement Program. 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. 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. Therefore, they should work to earn your business. Fannie Mae Updated Condominium Lending Guidelines. 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. 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. California home buyers with credit scores as low as 580 FICO can now qualify for California home loan with bad credit. Great Vacation at a Wonderful Spot!!For sale. U. 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. These units are designed for short-term rentals and offer amenities that rival those offered by five-star hotels. Barefoot Commons Branch. Safe area of Garden City , yet close enough for a quick drive to anything you could need or want. Investment property loans Commercial & Residential Condo Hotel Loans. 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. Coral Beach is an award winning oceanfront resort with excellent rental income! This oceanfront one bedroom has.