Financing

Leaders Expertise
Vacation home sales increased 17% from 2003-2004.
75 US million baby boomers will retire in the next 15 years.

If just 5% choose to own just 1 condo hotel unit as a seasonal second/third residence, 3.75 million units will be sold, or 250,000 units annually…

How many condo hotel units are “announced” or “under construction/conversion” presently 2005? Approximately 4,800 units

Many people are just waking up to why condo hotel ownership is so appealing as a second home alternative (freedom of use, whole ownership, limited responsibility, tax benes, and possible appreciation)… and when they do, they often buy multiple units in various climates and locations…

• No minimum sq foot requirement

• No Kitchens necessary

• We understand that buyers are seeking a lifestyle, not a stove & fridge.

• We have successfully closed on condo hotel units where other lenders stalled looking for separate utilities or 15% commercial space or less than 20% concentration.

• We will lend to 100% of a project, if your borrowers are qualified we will let them buy as many units as they can afford!

• Don’t risk your project’s success with lenders who are still trying to ‘figure out’ what a condo hotel is…

• We will strive to make your experience as hassle free as possible.

Click Here For Application
Please fax the Quick Application back to (305) 256-1171. We will run your credit report and call you to discuss details of your loan transaction.

Many of our loans are approved with only the following documentation:
• 2004/03 W2 form
• A recent YTD pay stub
• A current bank or investment account statement (to show your financial strength)
Without these documents your loan cannot proceed to our underwriters.

For self-employed or commissioned borrowers we often need:
• Full 2 years personal & business tax returns
• A YTD Profit and Loss (for each company you own more than 25%)
• A Business License or CPA letter

The Application fee of $375 is non-refundable and covers the appraisal expense and the cost of the credit report. We will only charge you this fee if we proceed with a loan application. Applications without credit card authorization information cannot be processed.

We attempt to close most loans within 1 month and if you choose to lock your interest rate we will protect the rate for 30 days. Please discuss lock in options with us, we will not lock a rate without your decision and request to do so, rates vary daily.