Upgrade your home or purchase a home and modify it to your liking. Get your Condotel financed quick and easy!

You can buy an ugly house and make it your dream home with a Renovation loan, or give your current home a face-lift. Want a Condotel as a second home? Not a problem. Working for the buyer, NOT the bank!

Renovation Home Loans

Let’s talk a little about Renovation home loans aka Reno loans. There is a lot to say about Reno loans. With a Renovation home loan, the possibilities are endless. So much so, I cannot list them all here.

A home renovation loan can be for a big project or a small project for your existing home or for a new home purchase as well as investment properties even when you have no equity.

Updating your existing home can be as simple as a new roof or kitchen renovation, bathroom renovation, or perhaps solar panels or whole home generators. Maybe your home is fine, but you want a swimming pool.

The Renovation home loan is the home owners remodeling dream.

There is a whole host of remodeling options, even outdoor options or home additions like a mother-in-law suite. It could be that you now need a home office addition. If you can think it, I bet we have an option for it.

So how does it work? If you love your home that you’re currently in, a Renovation loan would take your current mortgage combine the renovation costs and roll it all into one mortgage payment. And it is highly likely this will add value or even equity to your home.

If you’re planning to purchase a home a renovation home loan can make the improvements you want to the new home before you ever move in. The Renovation loan will even cover your mortgage payments until your home is move-in ready!

Yes, you read right and it’s not a typo. Depending on which Renovation loan you choose, you can roll your mortgage payments (up to 6 months) into the loan if the house is not move-in ready.

When all the repairs/remodeling is complete, then you can move in to your newly perfected home that you designed.

Let’s face it, you can find the perfect neighborhood, but not the perfect home. With a Renovation home loan, you can have your dream home completed before you even move in!

All the items listed above that are available for your current home, are also available for new home purchases and investment properties.

What are you waiting for? Why run up high interest rate credit card debt? With interest rates at an all time low, now is the best time to get all those outdated items fixed to your satisfaction.

Found a fixer-upper you want to purchase as an investment, call me!

One final note, all work performed under a Reno loan, must be completed by a licensed insured Contractor. You cannot do the work yourself.


So there seems to be a big fuss going on around Condotel financing. It’s really pretty simple.

So what is the definition of a Condotel? A Condotel is a Condo with a registration desk in which you own and can rent out on a weekly/monthly basis.

The myth out on the market that Condotels cannot be financed is simply not true. You can get Condotel financing, but there are a few differences.

I think where the confusion comes in is the financing of a Condotel loan. Up until a few weeks ago, the Condotel could only be financed as a second home, but this has recently changed. Condotels can be financed as an investment. You can rent it out when you’re not there.

A Condotel mortgage is still a mortgage, just like many other mortgages. The Condotel loan still has monthly mortgage payments no matter how it is financed.

The Condotel financing can now be financed as an investment property. A Condotel loan differs somewhat between lenders. The Condotel LTV (loan to value) can be anywhere from 65% to 75%. So let’s say you have a $300k condo in mind that you would like to purchase. The Condotel lender would finance $195k (65%) and you would pay the remaining 35% ($105k) out of pocket.

Most lenders have a minimum loan amount and this does differ from lender to lender just like the LTV (loan to value). Some lenders have minimum square footage requirements and some don’t.

Condotel mortgage rates are like the stock market or any other interest rate, they could change, but they seem to be pretty steady due to the recent changes allowing investment property financing. The Condotel interest rates seem to be a little higher than most mortgages.

For my Condotel mortgage lender, click here and go to my mortgage website. Contact me about becoming a Condotel owner. I will do my best to help make your dream come true.

Need Condotel financing in Florida, please contact me via my mortgage website or call/text me at 850.496.6357 and we can discuss in detail. Or simply fill out the email block below.

Now all has been heard; here is the conclusion of the matter: Fear God and keep his commandments, for this is the duty of all mankind.
Ecclesiastes 12:13 NIV

If you would like to chat or have more questions, please email me.

NMLS #2047521 – Follow this link to my Mortgage calculator. Serving the State of Florida only.

Disclaimer: There are no guarantees on loan acceptance or approval.