JPMorgan brings $303 million jumbo RMBS to market
Condotel-Loans Condotel Loan…rare and we have it! Get a Condotel Loan Nationwide Codotel Loans A Condotel Loan (condo hotel, order condo-tel, Condo Hotel Financing, etc….not a Non-Warrantable Condo loan) will fund up to 70% LTV nationwide, full documentation, 12 months PITI on all properties owned at close required, 680 min fico, rates start in the low 5s, 3/1, 5/1, 7/1, 30 and 15 year terms available. Condotel properties must have a full kitchen. No stated income. Foreign Nationals are okay for the up to 60% LTV, higher case by case. Second home,vacation home only…no Condotel investment properties. You can help us understand more about your Condotel Financing needs by filling out the form on the left side of this page. What is Condotel Financing (Its not a Non-Warrantable Condo)? A Non-Warrantable Condo Loan and Condotel Loan are different. Condotel Loan, aka condo hotel loan, is a fairly recent loan product incorporating a combo of a vacation style hotels with condominium for ownership. Condotel Financing began to be a very popular idea around 2001, because of difficulty in funding a Condotel Loan higher than 50% of the Condotel purchase price. In order to secure the correct loan amount, real estate owners sold units to customers, promising to rent the Condotel to vacationers for daily, weekly even monthly prices which would put money in the bank of the owners. Ten years plus later the Condotel is not as typical as it was and a Condotel Loan is very rare. The upside is Condotel resorts are still strong with vacationers. Condotel Mortgage Guidelines: Finance One Nationwidecondotel Lending (i.e., Condotel Financing Colorado, Condotel Financing in Florida, Condotel Financing Myrtle Beach, etc.) Purchase, R&T and C/O Refinance Full Documentation Only 680 FICO Minimum Fixed 30 & 15; ARM: 3/1, 5/1, 7/1 80% LTV to $625K max loan amt Loans to 75% to $1.5M, 70% to $2M, 60% to $3M (as high as 90%LTV to $10M case by case) Foreign Nationals OK! No 100% Financing. 70% LTV to $500K max loan amt (as high as 90%LTV to $10M case by case) Vacation/Second Home w/ full kitchen only Max DTI ratio is 40% w/12 Months PITI Required Liquid. 24 months if >$1M loan amt Condotel Loan amounts up to $2M, 60% LTV (as high as 90%LTV to $10M case by case) Low competitive conventional rates More on the Condotel Financing: Questions? Need more Condotel Loan information. Contact us with your Condotel Loan questions at 1-786-248-1283 , or by filling out the form on the left side of this page. This is not an offer to lend. Call for details. The Condotel Loan program can change daily and without notice. Illinois Stated Income Loan! 80% Stated Income Loans In Illinois- No Income, website like this Asset or FICO! Illinois Stated Income Loans up to 80% LTV (see our no doc loan program for no income, clinic no asset home loans) with low competitive conventional rates! Stated income loans limited to Illinois (other states case by case)! In all counties…Sangamon, Christian, Kentucky , etc. and cities…Chicago, Rockford, Springfield, Champaign, Chana, East Peoria, etc. Illinois Stated Income Loan Guidelines Unique programs: The New 80% Stated Income Loans is limited to Illinois (other states case by case). Our banking contacts at several lending institutions have given us a new unique stated income loans product to offer to our borrowers. Example: 30yr & 15yr. True stated income program specifics: Illinois Stated Income Loan Program General Guidelines: 720 Min FICO min w/ combined collections above $5K, no litigation in the last 5 yrs; BK and prior foreclosure considered Required Liquid Assets NO cash...
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