Call ☎ (800) 697-4371 info@afbcarolinas. 3910 Highway 17 South. 5), this property has a DSCR of 1. Look for oceanfront villas, condos, townhomes and condo hotels including luxury condos in places like Myrtle Beach, SC; Cocoa Beach, FL; Oak Island, NC and more. Great Vacation at a Wonderful Spot!!For sale. 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. 00 or as much as $3,360. Are you considering real estate investment in a vacation…Navigating Financing Challenges for Condotel Investments Aug 21, 2023. 1105 S Ocean Blvd. ) to find Myrtle Beach, SC apartments for sale according to your specific needs. Condotel Financing. Barefoot Commons Branch. 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. 1,210 sqft. However, at Commercial Real Estate Loan Pros of Tallahassee, we will get back to you during the first 24 to 48 hours and send a draft of the contract if we decide to approve the loan. Unfortunately, your hometown lender is not going to have such a program but the lenders on our list will. $379,500. 9% over the past year, and are expected to rise another 7. HomeBridge announces more relaxed guidelines for CONDOTEL financing in South Carolina!In response to the June 2021 collapse of an oceanfront tower near Miami, mortgage giants Fannie Mae and Freddie Mac are rolling out new rules covering condo loans – and. The good news is that finding an affordable and desirable property to rent in Myrtle Beach, SC -- whether it’s. The Gustan Cho Team has NON-QM Loans for self-employed borrowers. Condo Hotels are very popular in the state of Florida. We also offer our Condo/Condotel Lender List and Closed Sales Histories (Details for every sale since 2009 for over 180 resorts). We will send you a secure online payment form to complete upon acceptance. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy. Loan amounts up to $6 Million. Get a condo insurance quote online or call for advice. You will be contacted by one of our experts to confirm your information and validate authorization. More Details. Here are the highlights of our Condotel program: Borrowers must have a minimum credit score of 680. Step 2: Follow the Condo Project Review Type Requirements. The amount depends on various factors, and each package will look slightly different depending on the lender. 05:59. com. recent paycheck stubs. 1696 Fax: 603. Encompassing six buildings with 380 units, this contemporary property includes amazing…. We can offer both warrantable and non-warrantable condo financing. Get your quote today! 800-297-6414View 2594 condos for sale in North Carolina. com (800) 697-4371 facebookLenders have a business due to the demand for loans. Top Rated. Condotels are typically high-rise buildings which are developed and operated as a luxury hotel and are usually found in major resorts and cities. favorite_border 0. Or email us at gcho@gustancho. Subscribe now. ”. Cash-out refinance mortgage loans on a manufactured home requires a loan to value. Our mortgage lenders will gladly review your unique situation and find a flexible solution that best fits your lifestyle. The team at Gustan Cho Associates is available 7 days a week, on evenings, weekends, and holidays. 4550 Stay tuned for more insights and knowledge on condotel financing! Let's Talk Mortgage 1,778 follower + Subscribe. State. ; PBX phone system; high-level guest services such as 24. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ;. Stretching 60-miles along South Carolina’s coast from Little River to Georgetown is the Grand Strand. Available 7 Days/Week MON - FRI 8am - 7pm SAT - SUN 10am – 6pm Call us (407) 955-4575. 4856 Magnolia North Carnation Circle, Unit: 304, Myrtle Beach, SC 29577. Financing for Condotels in Hoboken, NJ – Serving California, Colorado, Connecticut, Florida, Georgia, Illinois, Maryland, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, South Carolina, and Washington D. Condotels are classified as non-warrantable condos. Safe area of Garden City , yet close enough for a quick drive to anything you could need or want. We can finance condotels in Florida, Alabama, Georgia, North Carolina and South Carolina. Golf colony resort 5p. Condotel financing was totally unheard of. 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. Florida Condo Mortgage, Florida Condo Mortgage Rates, Non-Warrantable Condo Mortgage, Condotel Mortgage Financing, Florida Condo Loans. They do make for a great investment, because the summer months on the Crystal Coast bring A LOT of visitors! The second thing to consider when. Navigating financing challenges in condotel investments requires creativity, diligence, and a thorough understanding of the market. Home buyers interested in purchasing a condotel unit or non-warrantable condominium in Florida, please contact me at 800-900-8569 or text us for faster response. com. 256. SECTION 27-50-10. Full Doc, Alt Doc and DSCR. California home buyers with credit scores as low as 580 FICO can now qualify for California home loan with bad credit. View property. 3 bed. In this second part of our blog series on condominiums and condotel financing, we will explore the ad. Subscribe now. Condotel Financing Solutions: Unlock Your Dream Investment in Myrtle Beach. Department of Housing and Urban Development | 451 7th Street S. 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. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy bed-Full Kitchen!! Coral. For Qualification, please review the following. If you need a Condo Hotel purchase mortgage loan or a Condo Hotel refinance mortgage loan, please contact us at Gustan Cho Associates at 1. But it boils down to whether or not you can rent the condo for 7 days or less, and it’s a daily rental. Grand Strand Coastal Realty. NUMBER OF ROOMS. In comes what we call our portfolio option for condotel financing. Click here to get started or call our main branch (866) 418-9219 to speak to a CCNB mortgage specialist. SkyWheel Myrtle Beach. With so much to see and do in Myrtle Beach, you’re sure to have a memorable vacation. Various Condotel Projects are popping up in Destin, South Beach, Panama City Beach, Palm Beach and Miami. You can find homes for as low as $245,000 in Richland County. To the average guest, a condo hotel unit might seem no different than a regular hotel suite, but the key difference is that it is individually owned. 5 million as a primary or second home. Conducting due diligence on lenders and maintaining open lines. 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. 8999. 3 bed. Comfortable & Spacious. 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. South Carolina 864. Deferred payments to start. Auto Loans. 29577, Myrtle Beach, Horry County, SC. Are you purchasing a condotel and struggling. Condotel financing is one of the things you need to be considering even as you consider taking on this business. It is considered real estate. A condotel is a building that’s legally operating as a condominium but also functions as a hotel. 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. Resort, Airbnb, Daily Rentals acceptable. Condotels are condominium projects, which are individually owned and operated as a hotel. Friday, November 24, 2023. Learn more. Condotel Financing Florida Mortgage Rates; Today's Condotel Florida Mortgage Rates; Live Condotel Mortgage Rates. Developers Reconsider the ‘Condotel’. Generally speaking, these loans are hard to obtain. There is no maximum loan size on Condotel Financing Mortgage Loans. Apply for a Condotel Loan in Miami Through Lending Bankers Mortgage. The condotel will be operated for 15 years. Condo For Sale In Myrtle Beach, South Carolina. Free Wifi. 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. The median price for homes in South Carolina varies dramatically from one county to the next. Make sure that the management and. This ground level 2-bedroom condo is located in the popular Seagate Village. 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. It’s a great way to own a fully furnished condo and be able to rent it out on a regular basis. South Carolina 864. With a private balcony, these level 3 condominiums are angle oceanfront units. Portfolio Financing for Condos and Condotels. 4 Beds 2. Share: 19 Properties in Myrtle Beach from $119,000. United States South Carolina Coastal South Carolina Garden City Beach. 1 Baths. 169 reviews. 1,210 sqft. Located in Myrtle Beach, finding an affordable mortgage is the first step to your new South Carolina home. Investing in a condotel property can be an excellent opportunity for individuals seeking a lucrative. Financing is available when you are looking to purchase a unit in a condotel but it is often more limited than when looking. net. Minimum loan amounts commonly fall in the range of $75,000 to $150,000 for most lenders. “Below is a list of all of the buildings and condos that I have closed loans in recently that I know are already approved as true condos and meet all the. FHA loan limits in many parts of California is $679,650. 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. Step 1: Determine a Condo Project Review Type. North Myrtle Beach, SC 29582. Ripley's Aquarium of Myrtle Beach. The Villas at Old South condos for sale range in square footage from around 1,000 square feet to over 1,400 square feet and in price from approximately $269,000 to $330,000. Getting a loan for a condotel is next to impossible due to the fact that most of them allow nightly rentals. Here are some additional details about Ocean Blue Resort: The resort has 12 floors and 120 units. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy. City. If you need a Condo Hotel purchase mortgage loan or a Condo Hotel refinance mortgage loan, please contact us at Gustan Cho Associates at 1-800-900-8569 or text us for a faster. Pet-friendly Rentals. 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. Choose Homes by Amenity. 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. $194,500 and up - Condo Hotel. Address Line 2. Your average annual premium will vary depending on your location, the coverage limits you select, and the deductible amount among other factors. We are available 7 days a week: evenings, weekends, holidays as well. Condotel Mortgage Rates; Florida Condotel. What is a Condotel? A condotel (also known as a hotel condo) is a residence unit that is legally classified as a condominium but is located inside a hotel and operated in the same way. 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. A condohotel, or a condo hotel as it is also called, is a unique type of residential and rental property. Condotel Financing Program Features Offering conventional and portfolio loan options Available for second home and investment properties Team of condotel specialists that. Generally speaking, only lenders with in-house programs designed for condotels can finance condotels. Condotels make great investments in touristy areas where they. 1 bathrooms-19 days ago Homefinder. Condotels give you all the comfort of owning. Qualification based on Property Income, Not Your Income. Shout or Text: (800) 900-8569. One Ocean Place. Homebuyer’s Guide on What To Do After Getting Mortgage Denial After Conditional Approval Borrowers Guide. Condotels are condominium units situated within a condo hotel. 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. Typically, these condotel buildings offer amenities such as a check-in desk, on-site cleaning services, water parks, and more, while individual units are separately owned. 1040 South Federal Highway, Hollywood, FL 33020 1-855-ADLOANS (1-855-235-6267). You Are Trusting Us With Getting Your Commercial Loan Closed, We Return Your Faith and Trust Back By Being Available 365 Days a Year. Campobello, South Carolina 1 contribution 1 helpful vote. 4999 Carolina Forest Blvd, Suite 12, Myrtle Beach, SC 29579. Fannie Mae Updated Condominium Lending Guidelines. Free parking. Borrowers can also email me at gcho@gustancho. 1025 Highway 17 South. The price tag for a vacation home in a popular resort area can be astronomical. We would love to have a chance to connect you to a condotel loan which can serve your needs. Industry-leading Bank Statement Program. Condotel loans are available for up to $1. 2507 S Ocean 1/13 Blvd Unit 905. Most Condotel Loans close in 21 days or less. California home buyers with credit scores as low as 580 FICO can now qualify for California home loan with bad credit. com. Let’s assume that the cost to purchase a condo is $250,000, in order to break even the hotel would need to charge $250 per night for your condo and rent out at least 60% of the time. Coral Beach. LuciaThe average rent price in Myrtle Beach, SC, is $1,319. North Myrtle Beach, SC 29582. Special offer. Investment home financing on a single-family home requires a 15% down payment. 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. The down payment requirements are significantly lower on second home financing versus conventional investment home financing. In this third installment, we will delve into the crucial process of assessing risks and returns associated with condotel investments. Explore our range of condotel financing solutions designed to simplify your investment journey Flexible Condo Hotel Loans. Type Full Name Below: *. Full Doc, Alt Doc and DSCR. He holds a Bachelor’s in Journalism and Mass Communications from the University of South Carolina. FLORIDA CONDOS. At Acorn Finance, our platform creates an element of competition for lenders, benefiting both you and them. Condotel lending can help you add a resort-like property to your portfolio. No doc mortgage loans where tax returns and income verification is not required. 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. Investment property loans Commercial & Residential Condo Hotel Loans. . For monthly updates on current listings and new closed sales, sign up for our Myrtle Beach Downtown Oceanfront Condos Real Estate News, one of the 50 versions of our e-newsletter. 10 or more units, up to 10% may be FHA-Insured. Choose an in-demand location. Petersburg CONDOTEL Financing. Condotel financing, investment, vacation, and second home financing available for cash out and purchase. Owner Financing available for qualified buyers. One thing to consider when buying a condotel, is that you will most likely need to pay cash. Condotel Financing Mortgage Guides Require 25% down zahlung, 680 FICO, 43% liabilities to income ratios for first and second condotel units. A condotel is a combination of a condominium and a hotel and is a unique type of property ownership. Gustan Cho and his team of loan officers are licensed in multiple states. Condotels; Project Reviews; PERS Submissions . Highlights include: • Up to 75% LTV (loan to value) • One-bedroom or larger – No square footage restrictions South Carolina Condo Hotel Financing. Condo For Sale In Myrtle Beach, South Carolina. To qualify, you’ll need to establish a certain minimum credit score and debt. Alpha Mortgage is licensed in North Carolina (L-113831), Virginia – Licensed by Virginia State Corporation Commission (MC-4927), South Carolina (#93265. financing on the most prestige's Condo-Hotel projects in South Florida. Property owners kept from operating a short-term rental would only be subject to the 4 percent property tax rate for a primary residence, even if the property was used as a second home or long. Condotels at Surfmaster: Surf Master in Garden City beach, SC and hurricane Matthew - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. Orlando’s newest condo hotel is minutes from Disney’s theme parks and numerous other attractions. Take control of your finances with a personal loan. S. Read more here: AllProperties Latest Blogs. Enjoy all the. Find the best offers for your search owner financing myrtle beach. 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. Condotels at One Ocean Place: DONT STAY HERE - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. We are available 7 days a week: evenings, weekends, holidays as well. 2001 S Ocean Blvd #1304, Myrtle Beach, SC 29577. com. House For Sale. Myrtle Beach, South Carolina, United States I've lived in the Myrtle Beach area for over 30 years and raised 3 daughters here who are natives. 1 bedrooms. Most lenders shy away from condotel financing. The minimal down payment is 3% for a primary residence, and grants are available to borrowers who qualify. Most of the Myrtle Beach oceanfront high rises are condotels. Unlike Our Competition, We Do Not Believe In Having Banker’s Hours. Click here to get started or call our main branch (866) 418-9219 to speak to a CCNB mortgage specialist. Refinances – unit owner must have Coop Stock. Is This Your Tripadvisor. Text us for a faster response. APPLY NOW. The Team at Lending Network, LLC Is Available Seven Days a Week, Evenings, Weekends, and Holidays. At Fidelity Home Group, we are Condotel Financing Florida mortgage experts! The Condotel also known as the Condo Hotel is quickly becoming popular in Florida as an investment opportunity. He holds a Bachelor’s in Journalism and Mass Communications from the University of South Carolina. Monthly listing updates and/or real-time notifications for listings, sales and market data Up-to-Date Local Lenders for conventional and condotel financing Yearly Closed Sales Price Histories for over 180 condo resorts (since 2009) Best team (Beach Pro Reviews) with the best company (RE/MAX Southern Shores). $379,500. 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. View property. 3910 Highway 17 South. 575 or greater credit scores. 18, 2009. com. Rock Hill, South Carolina 42 contributions 22 helpful votes. Get a quote Or, call 1-855-347-3939. Building or project needs to be more than or equal to 50% for commercial – this will be determined by the appraiser. Or email gcho@gustancho. 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. It is similar to a hotel in that many times the building actually looks like a hotel, but each individual unit is. A condotel is an entire complex, which means that if one (or more) of the units are not maintained properly, it can reflect poorly on the rest of them and bring property values down. Listed is all The. 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%. Gena: We’re using the term “condotel” to include a broad group of properties which typically have one or more “Hotel” type characteristics. Typically, each of the units within a condotel is sold to an individual owner. S Unit 816, Myrtle Beach — Coral Beach $170,000. Learn More. 2 Baths. Condotel Mortgage / Condo-Tel Financing / Condops A condominium project that is operated as a hotel with a registration desk, cleaning service and more. Condotels are condominium projects, which are individually owned and operated as a hotel. Long-Term Fixed or ARM Rates. com. The minimum loan size for both condotel and non-warrantable financing is $100,000. Rates typically run a half-percent. 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. Condotel Financing Now Available. Borrowers can also email me at gcho@gustancho. The coastal south carolina city of myrtle beach is one of the top travel destinations in the nation. Condotel And Non-Warrantable Condominium Mortgage Underwriting Process. Our Mortgage Experts. At least 50% owner-occupancy. Gena: We’re using the term “condotel” to include a broad group of properties which typically have one or more “Hotel” type characteristics. – LendSure will calculate the income for you and provide an extensive, common-sense pre-qual within 24 hours. repeat 0. Minimum down payment of 15%. Our mortgage lenders will gladly review your unique situation and find a flexible solution that best fits your lifestyle. Projects that have no other condotel characteristics, but which permit unit owners to offer short-term rentals on a seasonal basis while they reside in the units. View photos of the 106 condos and apartments listed for sale in Charleston SC. 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. Condo Hotels are very popular in the state of Florida. have a fully functional kitchen. 116 South River Road, Unit D-6A Bedford, NH 03110 Phone: 603. Listen to this article 3 min. As far as the technical difference goes, if there’s a nightly rent and there’s a check-in desk, it’s a condotel. Jerry Pinkas Real Estate Experts, Inc . 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. Address Line 1. Other financing options, such as an FHA or VA loan,. Since we are private lenders, you will notice that terms and conditions. Condotel unit buyers do not own a home and rent and are purchasing the Condotel and that Condotel is the only property that can have it classified as an owner. During the pandemic, rates on 30-year fixed mortgages fell below 3 percent. 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. These rentals, including the outside marketing of them, are handled directly by the management company. Homebuyer loans that make your homebuying dreams a reality. More finance insights;. Homeowners who own a personal residence, the new Condo-Hotel unit can be classified as a second home which requires 25% down payment. Learn more. CONDO RESOURCES. 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. 5. Known for an endless array of restaurants, shopping, entertainment, and miles of sandy beaches, the Grand Strand is a major tourist destination with more than 14 million visitors flocking to Myrtle Beach, its primary city, each year. Atlantic Beach currently faces one of the highest tax rates in Horry County. Up to 65% LTV on bridge loan for amounts between $1,500,000 to $2,000,000. Second-home financing requires a 10% down payment. Solutions is what they are about. 1% in 2019. Condotel loans are. (3) "Listing agent" means a real estate licensee who represents. Our experts can help you with the premier mortgage. Condos for Sale: Condos for Sale • Little River Condos • Myrtle Beach Condos • Mt Pleasant Condos • Isle of Palms Condos • Wild. A Condo-Hotel, also known as a Condotel, can be a great investment for those who are looking for vacation second homes; Investment condotel units are also gaining popularity due to the comeback of condotel financing Condotel unit buyers and commercial real estate investors who have any questions on Condotel Financing and/or commercial loans, please contact us at 800-900-8569 or text us for a faster response. com. Wow! I did. Home Spring is aware of the increased risk, but as with most of our non-traditional loans, we are willing to give people a little more leeway and assume higher risk to help people realize their dream of owning a second property. Step 1: Determine a Condo Project Review Type. Discover the perfect blend of real estate investment and luxury hospitality with our exclusive condotel offerings. A condotel is a combination of a condominium and a hotel and is a unique type of property ownership. We specialize in Condo Loans Financing for Warranted Condo Loans, Non-Warranted Condo Loans, Condotel Condo Loans, Primary Condo Loans and DSCR investment Condo loans for long and short term rentals. A&D Mortgage. 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. 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. ”. Comparing terms and consulting with financial experts can help you choose the best option. 967. The condo can even be 5 miles from the “check-in desk”. As you can see, the price difference. 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. There are no in-state. - Condo for sale. If you are staying at a resort, you pay $20 per day. Condotel purchase on the beach - Myrtle Beach User Name: Remember Me: Password : Myrtle Beach - Conway area Horry County Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. CONDOTEL FINANCING No State Limitations $100,000 - $1,250,000 Loan amount depending on the program Starting at 680 FICO 70% CLTV Purchase, Rate-Term 65% CLTV Cash-Out Highlights: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. Condotel Financing Guidelines. If you decide to invest in a short-term rental property in a condotel, here are four tips for getting started: 1. 5 million. , A151 Myrtle Beach SC 29575 Listed By CENTURY 21 The Harrelson Group. (843) 628-3604. 2 bedrooms. View Hotel. Mortgage rates for condos and other types of properties have been volatile in recent years. Use 75% of gross rent as gross Florida rental income. 2318867 MLS. W. Meredith, NH Office. Max 75% LTV Purchase. Senior homeowners may qualify for a homestead exemption that allows the first $50,000. Address Line 2.