Hawaii Mortgage Company specializes in financing condominium projects that allow for short-term vacation rentals. These projects known as condominium-hotels or condo-tels, are unacceptable collateral to Fannie Mae, Freddie Mac, VA, and USDA loan programs. These loans are only acceptable from lenders that offer “Portfolio” loan options. Virtually no mainland lenders offer these types of loans. In fact, most representatives of mainland lenders you speak to have no idea what a condo-tel is.
If you have inquired with mainland lenders about financing a condo-tel, and they don’t know what it is, they will give you not only the wrong rates and terms, but will most likely not be able to provide you your financing at all. That will not only waste your time and money for an appraisal no one can use, but could jeopardize your transaction.
Hawaii Mortgage Company finances more Condominium-hotel transactions than any other independent mortgage broker in the state, and has done so for many years. We have the resources to not only offer you peace of mind that your loan will get approved, but also offer the best rates and down payment options.
- Fixed-Rate and Adjustable-Rate options
- Owner-Occupant, 2nd Home, and Investors occupancy types
- Close in the name of your trust or business entity
- Purchase or Refinance financing
- Foreign Nations (non-US citizens) OK
How to Apply
Get pre-approved today! Hawaii Mortgage Company has a secure, online application that will streamline the process. Access it here.
Want more information about the various loan options available for your condo-tel purchase or refinance? Contact one of Hawaii Mortgage Company’s experienced Portfolio Loan professionals for a hassle-free explanation of this loan program. Serving Oahu – Hawaii – Maui – Lanai – Molokai – Kauai