Florida Condotel Mortgage :: Condominiums
YES .......... WE FINANCE CONDO HOTELS
Florida Mortgage Corporation offers condo hotel (condotel) or short-term rental property financing to most borrowers including Foreign Nationals. Financing is available for both purchase and refinance. We are experts in financing all types of condotels, including very small square footage units.
You probably would have never known
it, but there is a good chance the last time you stayed in a hotel, you
may have actually stayed in someone's condo hotel unit.
It provides the individual unit owner with some or all of the perks and amenities that the particular hotel has to offer. While the individual unit owner is not occupying their unit, it can be rented out to regular hotel guests, thus generating the individual unit owner rental revenue to offset their monthly ownership costs.
The big difference between a hotel and a condo hotel or Condotel is that a hotel typically has one owner, either individual or corporate, but Condotels are sold off unit by unit. Therefore, a 200 room Condotel could have as many as 200 unit owners. A hotel guest will likely never know that the "hotel" they are staying in has many different owners because every room in the rental program will look identical to every other. Whether you are considering the purchase of a Condominium, Co-op or Condotel, or short-term rental property, Florida Mortgage Corporation has a wide variety of Mortgages and Loan packages to fit every budget and need.
Contact Florida Mortgage Corporation today by telephone 727-791-8800 or email, for a free, no hassle, no obligation quote on all your Mortgage needs.
ARE CONDOTELS ALL THE SAME?
Very low monthly cost - Monthly rental revenue generated from your unit can offset your monthly ownership costs or may even provide you with a positive cash flow.
Vacation Destination - Your condo hotel unit can be used as a great get
away destination for you and your family. On average, most people stay in
their units about two weeks a year. The amount of time that individual
unit owners are allowed to occupy their units varies from complex to
complex. This can range from two weeks a year to 6 months a year depending
on the complex and local zoning ordinances.
Florida Mortgage Corporation, All Rights Reserved
Site Map -