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DAVEGATES
8 Posts |
 Posted - 08/08/2008 : 12:53:01 PM
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| Does anyone have any suggestions of lenders that are still doing Condotels? It seems I have checked everywhere and have had no luck. |
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jfink46
297 Posts |
Posted - 08/08/2008 : 1:05:05 PM
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| Do a search here, there are no lender left for this property type... |
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rmartens
186 Posts |
Posted - 08/08/2008 : 1:34:22 PM
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| Check with local banks, I actually have had some luck that way just calling every bank in the phone book. I ask if they work with lenders and what property types. Good Luck |
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DAVEGATES
8 Posts |
Posted - 08/08/2008 : 2:18:01 PM
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| Well for example who is doing the Financing for Trump Towers? Someone has to be doing it. |
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gcaron05
247 Posts |
Posted - 08/08/2008 : 3:34:43 PM
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quote:
Originally posted by DAVEGATES
Well for example who is doing the Financing for Trump Towers? Someone has to be doing it.
Only for non owner occupied $1 million Minimun amount of loan. |
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dkendall1979
10297 Posts |
Posted - 08/08/2008 : 4:33:26 PM
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We've closed a few in the TTV.
Clients must be very liquid and full doc. |
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KHufford
6002 Posts |
Posted - 08/08/2008 : 4:33:44 PM
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quote:
Originally posted by gcaron05
quote:
Originally posted by DAVEGATES
Well for example who is doing the Financing for Trump Towers? Someone has to be doing it.
Only for non owner occupied $1 million Minimun amount of loan.
Are you guys using a PE firm out of NY?
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dkendall1979
10297 Posts |
Posted - 08/08/2008 : 4:52:32 PM
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I think CU Lending Partners has a program similar to this (or at least their hooked up with the fund that has it).
quote:
Originally posted by KHufford
quote:
Originally posted by gcaron05
quote:
Originally posted by DAVEGATES
Well for example who is doing the Financing for Trump Towers? Someone has to be doing it.
Only for non owner occupied $1 million Minimun amount of loan.
Are you guys using a PE firm out of NY?
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flajack
5 Posts |
Posted - 08/18/2008 : 03:39:32 AM
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PRIVATE HEDGE FUND
Condotel/Condo/SFR financing for Foreign Nationals & US buyers
Loans and Terms available on a case by case basis
65-80% LTV's
6.5%-9.5% interest rates
3/1&5/1 Arms
Buyer must have strong personal liquidity in order to qualify for financing.
All terms are subject to change.
Documents needed for prequals
1003, 1008, borrower’s authorization credit report & purchase contract
Net worth statement if available
Contact
Jack Lewis
Statewide Mortgage Group
407-401-7585
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flajack
5 Posts |
Posted - 08/18/2008 : 03:42:08 AM
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PRIVATE HEDGE FUND
Condotel/Condo/SFR financing for Foreign Nationals & US buyers
Loans and Terms available on a case by case basis
65-80% LTV's
6.5%-9.5% interest rates
3/1&5/1 Arms
Buyer must have strong personal liquidity in order to qualify for financing.
All terms are subject to change.
Documents needed for prequals
1003, 1008, borrower’s authorization credit report & purchase contract
Net worth statement if available
Contact
Jack Lewis
Statewide Mortgage Group
407-401-7585
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