Condotel Loans
Condotels are condos that are run as resort properties and offer amenities such as check-in desks, maid services, room service, etc. While common in the Myrtle Beach area, condotels do not meet the guidelines for obtaining “conforming” financing. 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.
Highlights include:
• Up to 80% LTV (loan to value) – 70% for investments
• One-bedroom or larger – No square footage restrictions
• In-house underwriting and superior service
• Timely Closings
• Impeccable Service
Ready to begin?
To use our secure online portal, you’ll first establish a user name and password. After completion, you can begin a new application, resume an existing application, upload documents, accept electronic disclosures, and more, when it’s convenient for you.
Not sure where to start?
CCNB’s mortgage specialists will use our ‘We Can Do That!’ spirit to help you get moving!
Here are some additional resources, especially for first-time homebuyers:
• The Mortgage Process
• Tips for first time home buyer
• Tips Every Home Buyer Should Know
Have more questions? No worries, we have answers!
Click below to contact a CCNB mortgage representative to schedule a complimentary, no-obligation consultation with one of our mortgage specialists.
- Subject to credit approval. Offer may change without notice.
