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Condotel – Resort, Airbnb, Daily Rentals


Condotel Loans

Condotels are condos that are run as resort properties and offer amenities such as check-in desks, maid services, room service, etc. Condotels do not meet the guidelines for obtaining “conforming” financing (Fannie Mae and Freddie Mac). We offer 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.

A condo hotel (AKA condotel) is a great way to own a luxurious vacation home without the traditional hassles of ownership such as property maintenance and finding renters when you’re not using it.

Program Highlights

  • Fixed Rate: 20, 25, 30 Year Term
  • Interest Only: 30 Year Term with 10 Year IO period. (Qualify based on 20 year amortization)
  • Purchase, Rate Term & Cash Out Refinance
  • Primary Residence, Second Home & Investment Property
  • Loan amounts up to $2 million
  • Minimum loan $300,000 for Non-Warrantable condominiums)
  • DTI up to 49.99%
  • LTV up to 80%, 75% on second homes and 70% on investment properties
  • Credit Score as low as 680 and 700 on cash outs
  • Florida attached condominiums limited to 50% LTV/CLTV/HCLTV
  • Transaction must be arm’s length
  • Gift funds not allowed
  • First-Time Homebuyers not allowed
  • HOA delinquencies exceeding 15% are approved case-by-case
  • Resort, Airbnb, Daily Rentals acceptable
  • Full Doc and Bank Statements available
  • In-House Underwriting

The Parham Team believes in educating and engaging our customers throughout the loan process. We look forward to hearing from you to begin that process. Contact us today at 855-326-6802 or schedule a call with a Loan Specialist.