Rental Income. In this third installment, we will delve into the crucial process of assessing risks and returns associated with condotel investments. Fast Quote. Golf colony resort 5p. 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. 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. 1 Baths. CENTURY 21 Real Estate › South Carolina › Myrtle Beach Homes for Sale › Myrtle Beach Condos for Sale. Second-home financing requires a 10% down payment. Condotels at One Ocean Place: Very nice condo building. How. As you can see from our program highlights, Allied First Bank of The Carolinas specializes in providing condotel financing solutions. 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. I found Condotel Financing at competitive rates Types of Mortgages Available Principle & Interest Mortgage Options 30 yr 3/3 ARM @ up to 75% LTV (Lock for 3 Yrs. We can offer both warrantable and non-warrantable condo financing. Therefore, they should work to earn your business. 5 million as a primary or second home. Our experts can help you with the premier mortgage. 25% down payment requirements for primary as well as secondary homes. Financing and finding a South Carolina vacation home loan is much different that financing a primary residence. 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%. 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. COMMERCIAL. South Carolina Beachfront Condos & Villas For Sale listings have an average sales price of $342,818 ranging in price from $24,000 to $1,599,000. Beaufort, Beaufort County, SC . 3910 Highway 17 South. Typical features could include an onsite rental office; onsite commercial space (s) such as restaurants, day spas, convenience stores, etc. Featured. Many property. (843) 839-1649. 604 N 27th Ave, Myrtle Beach, SC 29579. 100% online, 100% easy, 100% safe. For Qualification, please review the following. $242,900. Condotel financing, investment, vacation, and second home financing available for cash out and purchase. Reviewed August 20, 2018. The condotel will be operated for 15 years. We offer 3/1 ARM, 5/1 ARM, and 7/1 ARM Condo Hotel Mortgage Loan Programs, amortized over 30 years. USDA. Myrtle Beach condotel financing guidelines made easy Our flexible options and expert guidance ensure a seamless experience. 3 bed. CONDO FINANCING. There was a time for the past three years that not a single mortgage lender would touch a Condotel unit. Dec. 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. These units are designed for short-term rentals and offer amenities that rival those offered by five-star hotels. NMLS #5645 ǀ AZ Lender #BK-0906866 #MLB5645 On Q Financial, Inc. GEORGIA CONDOS. HISTORY: 1962 Code Section 57-498; 1962 (52) 1866; 1967 (55) 449. 758. 1105 S Ocean Blvd. You can potentially have quite a bit of money left over for the things that make a house comfortable and specific to your vision. . Established in 1985, Barefoot Rental Management provides residential property management services in Myrtle Beach as well as Surfside, Garden City, Murrells Inlet, North Myrtle Beach, Conway, Carolina Forest, and Little River. 2318867 MLS. The minimum loan amount for DSCR Loans is going to vary by lender. You Are Trusting Us With Getting Your Commercial Loan Closed, We Return Your Faith and Trust Back By Being Available 365 Days a Year. have a fully functional kitchen. It is considered real estate. Individual owners have units, but they have. View property. 702 sq ft. § 47C-1-101. Take control of your finances with a personal loan. Reed is the Principal of Myers Capital, a twenty-year old mortgage lending company located in downtown Honolulu, Hawaii and Greenville, South Carolina. Fannie Mae Updated Condominium Lending Guidelines. Up to 103 LPC Non-Owner Occupied. com to schedule your consultation. (843) 628-3604. We are available 7 days a week: evenings, weekends, holidays as well. In Part 2 of our blog series on condominiums and condotel financing, we explored the exciting investment potential of condotels. As you can see from our program highlights, Allied First Bank of The Carolinas specializes in providing condotel financing solutions. (1) "Commission" means the South Carolina Real Estate Commission. Condo hotel mortgage loans also known as condotel and financing is offered aby portfolio lenders with 25% down payment on owner occupant. We offer 3/1 ARM, 5/1 ARM, and 7/1 ARM Condo Hotel Mortgage Loan Programs, amortized over 30 years. Non-Prime Bank Statement Mortgages For Self-Employed Borrowers. The team at Gustan Cho Associates is available 7 days a week,. Condotel and Non-Warrantable Condo Financing. Check NC real-estate inventory, browse property photos, and get listing information at realtor. Fidelity Home Group offers mortgages for warrantable, non-warrantable and condotel property types. to. $189,000 and up - Condo Hotel. Loan Amount Range: From $100k up to $4 million. 25% down payment, 75% loan to value, is required for primary and second condotel unit buyers. Points. Skip the content. Apply for a Condotel Loan in Miami Through Lending Bankers Mortgage. Condotels at One Ocean Place: gorgeous penthouse - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. More finance insights;. Officials acknowledged their vote was tied to a $100 million “condotel” project proposed along 30th Ave. Financing condominiums in Myrtle Beach can be a very tricky process. Our company can help you find private lenders to meet all your funding needs. Most lenders shy away from condotel financing. com. 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. Typical features could include an onsite rental office; onsite commercial space (s) such as restaurants, day spas, convenience stores, etc. Inquiries. Condotels give you all the comfort of owning. *All loans subject to credit approval. 7100 N Ocean Blvd #1126, Myrtle Beach, SC 29572. 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. Then there is an HO-6 policy, which is a small interior (walls in) policy you’ll. S. In this second part of our blog series on condominiums and condotel financing, we will explore the ad. Address: 1990 N Waccamaw Drive. Condotel Units, also known as Condo-Hotel, have been very popular from the mid-1990s until 2008, when the real estate and financial markets. North Myrtle Beach Branch. Get Started. 3 bath. 810 3rd Ave S Corner 3rd Ave South and Poplar Drive South. Great Vacation at a Wonderful Spot!!For sale. Max 65% LTV Refinance. Mortgage Bankers hours 8am-5pm (PT) Airbnb/VRBO Financing. 30 room nights free every year with an option to use 3 nights/year/other hotel of Sta. SECTION 27-50-10. com (800) 697-4371 facebookCondotel financing in Miami is one of our specialties here at Lending Bankers Mortgage. Fast Closing and Flexible Underwriting. 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. - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. 2001 S Ocean Blvd #1304, Myrtle Beach, SC 29577. Condotel Mortgage Rates; Florida Condotel. However, to be able to find a lender who offers you a loan for building a condotel, you need expert supervision from Commercial Real Estate Loan Pros of Key West. 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. HOA Budget 10% reserve requirement (or amount supported by reserve study). Condotel Financing Mortgage Guidelines And RequirementsFinancing options for condotel investment include bank loans, developer financing, and cash payments. Visit Learn About Project Standards to see all Project. Up to. As far as the technical difference goes, if there’s a nightly rent and there’s a check-in desk, it’s a condotel. 1625 S Ocean Blvd Unit 1802. 1 bed. Located in Myrtle Beach, finding an affordable mortgage is the first step to your new South Carolina home. Minimum down payment of 15%. Condotel financing is back. , A151 Myrtle Beach SC 29575 Listed By CENTURY 21 The Harrelson Group. Condotels at One Ocean Place: One Ocean Place, Room 203 - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. S Unit 816, Myrtle Beach — Coral Beach $170,000. Applicability. Condotel. Atlantic Beach currently faces one of the highest tax rates in Horry County. net. When a project as a whole, functions more like a vacation rental resort, the building is ineligible for. owner financing available! no need for traditional condotel financing hassles! direct oceanfront full 1 bdrm, 2 queen beds plus murphy bed-full kitchen! coral beach resort is continually v Yes, You Can Get Condotel And Non-Warrantable Condo Loans. A condo hotel goes by many names. Spartanburg, South Carolina 27 contributions 12 helpful votes. Condotel Financing Guidelines. The resort offers luxurious accommodations, a variety of amenities, and a prime location. financing on the most prestige's Condo-Hotel projects in South Florida. We’ll point out important items to help you understand what’s on your credit profile. June 11, 2021 / in General, Mortgage / by Laura A. Most Condotel Loans close in 21 days or less. 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. Listing courtesy of Listing Agent: Michele Blase () from Listing Office: Realty ONE Group Dockside. 3 miles from Condotels at One Ocean Place. 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. 2318867 MLS. The project must have at least five units. Many units are operated with hotel-like amenities including a front desk, activities-concierge services, and regular housekeeping service. , 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. 32 days on Zillow. Full kitchen (kitchenettes are not allowed) Minimum loan size is $100,000 and the maximum loan size is $3 million. As an investment owner, you are not a primary resident. Condotel financing is one of the things you need to be considering even as you consider taking on this business. Rental Income. 8999. Gena: We’re using the term “condotel” to include a broad group of properties which typically have one or more “Hotel” type characteristics. 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. Wells Fargo Bank. 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. By this, you need to get an expert in this business who can help you with the bit of financing for this business. A 10% down. Visit Learn About Project Standards to see. South Carolina and the Greater Myrtle Beach area. NMLS #5645 These programs are available to only qualified borrowSouth Carolina property manager licensing requirements include: Age: must be at least 18 to be a property manager, and 21 to be a property manager in charge. 5% down payment for a home purchase. com. Discover if investing in condotels in the Philippines aligns with your investment goals. Use the filtering options available (number of bedrooms and bathrooms, square footage, year built, etc. Petersburg CONDOTEL Financing. Condotels at One Ocean Place: Never Again! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. St. Condotels at One Ocean Place: Unit 203 beautiful view, horrible parking - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. No minimum square feet. We will send you a secure online payment form to complete upon acceptance. Owners use short-term rentals to generate income, listing them on platforms. Minimum down payment of 15%. 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. Identify clients with a FICO score of 700 or higher who are seeking Non-QM financing options. other documentations. 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. A: I do not support the development of the 21-story condotel. One Ocean Place. North Myrtle Beach, South Carolina. Get a quote Or, call 1-855-347-3939. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy bed-Full Kitchen!! Coral. com so that we can make sure your policy is always working for you! Wondering if you need condo insurance in Myrtle Beach? Here's everything you need to know about this type of coverage, what it covers and how much it costs. Investment property loans Commercial & Residential Condo Hotel Loans. C. In this article, we will discuss and cover condotel financing mortgage guidelines. Qualification based on Property Income, Not Your Income. Borrowers can also email me at gcho@gustancho. Borrowers can also email us at gcho@gustancho. Flood Insurance Coverage Calculator. This is a unique option because rather than selling the loan to Fannie Mae, we fund and service the loan, meaning you will receive your monthly mortgage statement from us, and make payments to us. For a list of condo hotels in Miami and Miami Beach, please. Max 65% LTV Refinance. 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. There is no maximum loan size on Condotel Financing Mortgage Loans. Condotel Financing Debt Guidelines Require 25% down bezahlen, 680 FICO, 43% debt the earned ratios for first and second condotel units. Note: Easy Street Capital’s current minimum loan amount is $75,000 for a DSCR Loan. With a private balcony, these level 3 condominiums are angle oceanfront units. Mortgage Calculators; Contact Us; Our Team; VA Loans; Our Blog. Fannie Mae Lender Letter (LL-2021-14) specifically states that new guidelines are necessary to combat aging infrastructure and significant deferred maintenance in condominiums in the wake of. Get your quote today! 800-297-6414View 2594 condos for sale in North Carolina. Home; About Us. 212 reviews. 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. In such cases, the Loan-to-Value,. Full Doc, Alt Doc and DSCR. We will send you a secure online payment form to complete upon acceptance. Condominium mortgages is a non-conforming portfolio loan. Ocean front condos are known by lenders as a "Condotel. *. Condo hotel mortgage loans also known as condotel and financing is offered aby portfolio lenders with 25% down payment on owner occupant. Listen to this article 3 min. Capital Lending Network, Inc. Demise Of Condotel Financing After Real Estate Meltdown. Owner Financing - Myrtle Beach, SC Home for Sale. If you have any questions on second home mortgage loans please contact us at 800-900-8569 or text us for a faster response. 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. Max 75% LTV Purchase. Print . Like favorite_border. " Meaning they are a condo that is in what they consider a hotel. (1985 (Reg. The price per square foot is about $126. 5 Baths 2862 SqFt. 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. Up to 75% LTV for Purchase Loans. The team at Gustan Cho Associates are specialists in condotel financing in Florida and. 843. The price tag for a vacation home in a popular resort area can be astronomical. Conducting due diligence on lenders and maintaining open lines. North Myrtle Beach, SC 29582. 991 38th ave n, myrtle beach, sc, 29577. ) to find Myrtle Beach, SC apartments for sale according to your specific needs. (3) "Listing agent" means a real estate licensee who represents. 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. Get the latest updates on our loan solutions, webinars, tradeshows, events, and. High LTV and Interest-Only Options. Or email us at gcho@gustancho. Ripley's Aquarium of Myrtle Beach. Get Started. NMLS ID #93265. Condotels Golf Colony Resort, Myrtle Beach: See traveler reviews, candid photos, and great deals for Condotels Golf Colony Resort, ranked #36 of 99 specialty lodging in Myrtle Beach and rated 3 of 5 at Tripadvisor. Call ☎ (800) 697-4371Condotels at Surfmaster: Surfmaster by the sea 809 - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. Refinances – unit owner must have Coop Stock. Condotels at One Ocean Place: 902 One Ocean Place is Excellent! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. At times in 2022 and 2023. 3 bed. 575 or greater credit scores. Building or project needs to be more than or equal to 50% for. Some lenders may go as low as $55,000. Or email [email protected] Mortgage Condo loans. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy. Show all. 207 28th Ave N #25, North Myrtle Beach, SC 29582. If you’re submitting a credit card application electronically via this inquiry form, please leave that field blank and a CCNB representative will contact you once they’re in receipt. There are also plenty of amenities and daily housekeeping. Maximum LTV (loan-to-value) is often 60-75%. - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ;. 1,039 Myrtle Beach SC Condos for Sale. This chapter shall be known and may be cited as the North Carolina Condominium Act. THE OCEAN FOREST COMPANY. A condotel unit is a private condominium unit inside a hotel that an individual and entity owns. We now offer Condotel and Non-Warrantable Condo Financing which are portfolio loans with 25% down payment. 8999. $590,000. Also, if you’re a real estate. Contact Gustan Cho Associates at 800-900-8569 or text for faster response. South Carolina. A condotel is a combination of a condominium and a hotel and is a unique type of property ownership. CONDOTEL. You Are Trusting Us With Getting Your Commercial Loan Closed, We Return Your Faith and Trust Back By Being Available 365 Days a Year. Florida CONDOTEL Financing. Condotels make great investments in touristy areas where they. 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. Investing in a condotel property can be an excellent opportunity for individuals seeking a lucrative real estate venture, especially in a popular tourist destination like Myrtle Beach, South Carolina. North Myrtle Beach, SC 29582. $242,900. Condotels at Surfmaster, Garden City Beach: See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster, ranked #5 of 10 specialty lodging in Garden City Beach and rated 4. . A condotel, or condo-hotel, is a unique style of property ownership that operates as both a residence and a rental unit. Condotel Mortgage / Condo-Tel Financing / Condops A condominium project that is operated as a hotel with a registration desk, cleaning service and more. 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. Step 1: Determine a Condo Project Review Type. Owners used as 2nd home. 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. 2023. Type Full Name Below: *. Long-Term Fixed or ARM Rates. Call ☎ (800) 697-4371 info@afbcarolinas. Purchase, Rate Term and Cash-Out Refinance options available. 3D Tour. Orlando’s newest condo hotel is minutes from Disney’s theme parks and numerous other attractions. 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. com or visit us at lender overlays. Matthews, North Carolina (704) 858-3884; Posted Mar 9 2015,. Owner Financing available for qualified buyers. )We can be contacted several ways to help answer any questions you may have: Call us at toll free at 888 259 2257. Or email us at gcho@gustancho. Report. Real Estate Investors and homebuyers can also subscribe to our newsletter at 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. Caravelle is an Oceanfront Condo Complex in Myrtle Beach, SC. com. 75% of a refinance mortgage on a manufactured home. SECTION 27-31-60. Fast Closing and Flexible Underwriting. Purchase loan-to-values (LTV) (down payments) are identical for a primar residence. – LendSure will calculate the income for you and provide an extensive, common-sense pre-qual within 24 hours. Here are some additional details about Ocean Blue Resort: The resort has 12 floors and 120 units. General Provisions. Various Condotel Projects are popping up in Destin, South Beach, Panama City Beach, Palm Beach and Miami. Documentation: Qualify with either a traditional full doc loan or a limited document bank statement-only loan. The median price for homes in South Carolina varies dramatically from one county to the next. South Carolina 864. We can finance condotels in Florida, Alabama, Georgia, North Carolina and South Carolina. Highlights include: • Up to 75% LTV (loan to value) • One-bedroom or larger – No square footage restrictions South Carolina Condo Hotel Financing. 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. Great Myrtle Beach Oceanfront Location on South Ocean Blvd. • 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. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy. APPLY NOW. Indeed, when looking to rent in Myrtle Beach, SC, you can expect to pay as little as $560. (843) 903-3550. Barefoot Commons Branch. ; PBX phone system; high-level guest services such as 24. 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. Apply Now and Get a Quote Today! Get more details. Zip Code. Developers Reconsider the ‘Condotel’. 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. Most of the Myrtle Beach oceanfront high rises are condotels. 114. Use 75% of gross rent as gross Florida rental income. 596 sq ft. #110 FRACTI, North Myrtle Beach, SC 29582. Please contact us at (786) 220-1100 to set up your free consultation. Here are the highlights of our Condotel program: Borrowers must have a minimum credit score of 680. Now you can offer borrowers financing for their condotels – all with the program options and service levels that you’ve come to expect from LendSure. $639,900. 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. 201 South Ocean Blvd. 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. At Lending Bankers. Subject property needs to be 100% residential (or livable) The units need. S. Atlantic Beach currently faces one of the highest tax rates in Horry County. com®. A condotel is just what it sounds like—a cross between a condominium and a hotel. The good news is that finding an affordable and desirable property to rent in Myrtle Beach, SC -- whether it’s. Gustan Cho NMLS 873293 is the National Managing Director of NEXA Mortgage, LLC dba as Gustan Cho Associates NMLS 1657322. South Carolina also has an income requirement to qualify for a first-time home buyer program mortgage. No Income Verification, No Tax Returns. We can offer both warrantable and non-warrantable condo financing. The Best CONDOTEL Financing. Condotels at One Ocean Place: 3 bedroom condos oceanfront - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. North Myrtle Beach, SC 29582. About Us. Homeowners who own a personal residence, the new Condo-Hotel unit can be classified as a second home which requires 25% down payment. 1 bath. Share: 19 Properties in Myrtle Beach from $119,000. Gustan Cho Associates can get up to a 75% cash-out refinance loans for those Condotel unit owners who are looking to do a cash-out refinance on their second or vacation home Condotel unit. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ;. HomeSpring is the way to go when looking to finance your home. A condotel operates just like a hotel and hosts short-term guests. It refers to a type of property that combines elements of both condominiums and hotels. Gustan Cho Associates is one of a few lenders that offer condotel financing. ; PBX phone system; high-level guest services such as 24. We also provide first-rate, friendly service for every member. FLORIDA CONDOS. 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. Click here to get started or call our main branch (866) 418-9219 to speak to a CCNB mortgage specialist. 00 or as much as $3,360. Nicely updated unit! Many amenities!. State. – LendSure will calculate the income for you and provide an extensive, common-sense pre-qual within 24 hours. 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. second year in a row here !!! The owners of this Condo 702 have went overboard to make your stay enjoyable and better than your own home. Condotel loans are available for up to $1. South Carolina 864. Senior homeowners may qualify for a homestead exemption that allows the first $50,000. This rented condominium is situated on the Garden City Beach. Barefoot Commons Branch. The Team at Lending Network, LLC Is Available Seven Days a Week, Evenings, Weekends, and Holidays. Coral Beach.