Condo Financing and Condotel Mortgages. Financing is available when you are looking to purchase a unit in a condotel but it is often more limited than when looking. This ground level 2-bedroom condo is located in the popular Seagate Village. Click here to get started or call our main branch (866) 418-9219 to speak to a CCNB mortgage specialist. Long-Term Fixed or ARM Rates. 4817 Magnolia Lake Dr #301, Myrtle Beach, SC 29577. Asking Prices range from $100,000 to $16,995,000 with an average price of $1,417,970 and an average price per square foot of $1,300. Nov 23, 2023 - View the Best vacation rentals with Prices in North Myrtle Beach. Oceanfront Condo - North Myrtle Beach, SC Home for Sale. View our Myrtle Beach real estate area information to learn about the weather, local school districts, demographic data, and general information about Myrtle Beach, SC. For monthly updates on current listings and new closed sales, sign up for our Myrtle Beach North End Oceanfront Real Estate News, one of the 50 versions of our e-newsletter. 129 Cold Stream Cove Loop, Garden City Beach, SC 29576-9146. Boardwalk Oceanfront Tower - Myrtle Beach Condos for Sale. Qualification based on Property Income, Not Your Income. 2% within the next year. 5/5. Also, STR properties (rental terms of less than 90 days) must be registered with a $1K initial registration fee, and a $500 annual renewal fee. We also offer our Condo/Condotel Lender List and Closed Sales Histories. UNIT #406 North Myrtle Beach in Beach Cove - View all 40 photos. Myrtle Beach, SC 29579; Office: 800. Condo For Sale $159,900. Our deep understanding of the Myrtle Beach real estate market allows us to identify the most suitable condotel financing options for your specific investment. Myrtle Mike Thompson. is a licensed lender. W. Enjoy all the. We were considering buying a condo tell in Myrtle Beach till we learned the rental split was 60/40. The Caravelle Resort: 6900 N. Unfortunately, your hometown lender is not going to have such a program but the lenders on our list will. Condotels International Inc. A 10% downpayment is required and there are no prepayment penalties. . Personal Banking. 7100 N Ocean Blvd #1202, Myrtle Beach, SC 29572. Condo For Sale $199,900. . Do You Own Your Home? 2. [email protected] a larger selection of condo types - we lend on a wide variety of condo developments, including new construction and conversion projects. Enjoy the. Locally, we have a handful of local lenders, with very. 3 Baths. 991 38th ave n, myrtle beach, sc, 29577. 455. Myrtle Beach, SC 29579; Office: 800. For monthly updates on current listings and new closed sales, sign up for our Myrtle Beach Downtown Oceanfront Real Estate News, one of the 50 versions of our e-newsletter. ALL this beach has to offer!!!!This owner financing home is a townhouse or condo located in MYRTLE BEACH. Search our selection of vacation condos and homes from Litchfield Beach to the south-end of Myrtle Beach. $239,900. We also offer our Condo/Condotel Lender List and Closed Sales Histories (Details for every sale since 2009 for over 180 resorts). Seaside Realty Company Broker In Charge, E-Pro Certified. Page 2Pamela D. The units are located within a building that has the amenities of a hotel, including a front desk as well as a cleaning staff. Amenities Photos Map View Reviews FAQs. You don’t have to mow the lawn or worry about shoveling snow. 1105 S Ocean Blvd Unit 832, Myrtle Beach, SC 29577 is for sale. 4785 -. MORTGAGE CALCULATOR. The team at Gustan Cho Associates are specialists in condotel financing in Florida and. 9. 387 sq ft. #D. Financing CONDOSin Myrtle Beach. Condotel-Loans Condotel Loan. - Homes for sale presented by the Beach Pro Team: 843. 2 reviews. 1. - Homes for sale presented by the Beach Pro Team: 843. LOAN. This unit features a full kitchen equipped with a full size fridge, rang. 1,501 sqft. 1 bath. 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. 1 Listings from $649,900. DSCR calculations as low as zero are eligible for the program. Condo For Sale In Myrtle Beach, South Carolina. 1st Bedroom: 1 king bed, attached bath. S - Koa Campground in Myrtle Beach - 2 bd 2 ba 0 ½ ba. Financing/Investment. Borrowers must have owned any property type in the past 24. 455. The units are individually owned. 3bd. Financing is available when you are looking to purchase a unit in a condotel but it is often more limited than when looking at other properties, including standard condos. Condotels are condominium projects, which are individually owned and operated as a hotel. Thanks in advance. I know most of them are those condoels which apparently is an old term, but looking for insight. 29582, North Myrtle Beach, Horry County, SC. com. 2. Owner Financing available for qualified buyers. (843) 800-8484. info@afbcarolinas. $590,000. If you think that condotel ownership may be for you, we can help you apply for competitive condotel financing in Miami or the surrounding region. However, I'd really like to keep it at the 20% mark. His knowledge and expertise is second to none. Stay at this business-friendly hotel in Murrells Inlet. 33. Subject property needs to be 100% residential (or livable) The units need. The following are the criteria in which properties would be allowed for condotel financing: The units need to have a full kitchen and a separate bedroom. The Brighton Tower is an upscale 21-story oceanfront condominium tower in Kingston Plantation, a 145 acre world-class resort located in the Arcadian section between Myrtle Beach and North Myrtle Beach. No appointments necessary. Click here to get started or call our main branch (866) 418-9219 to speak to a CCNB mortgage specialist. Myrtle Beach City Manager John Pedersen previously told The Sun News such an exception would be made since many of Myrtle Beach’s hotels are condotels with rooms. Learn how to finance a condotel in Myrtle Beach SC with local mortgage lenders and experts. Atlantic Beach voters will have big decisions to make at next month’s polls as they opt for a new mayor and flip the council by at least one new member on the panel. Myrtle Beach condotels are also a much better investment than timeshares, as timeshares are hard to sell, while condotels are in demand. A condotel is a. The Best Courses, The Best Accommodations, The Best Prices. Compare the latest rates, loans, payments and fees for ARM and fixed-rate mortgages. North Myrtle consists of four beaches -- Windy Hill, Crescent Beach, Ocean Drive. Low-Down-Payment loans : FHA. Frequency of contact may vary and message and data rates may apply. 813 2nd Ave N. This unit is at the Atlantica Resort, which is centrally located in Myrtle Beach and within close proximity to the boardwalk, sky wheel, and Myrtle Beach convention center. Local Lender Lists (Homes Condos) 1031 Tax-Deferred Exchange; Mortgage Calculator;. However, securing financing for such a unique property can be a complex process. Ripley's Aquarium of Myrtle Beach. Myrtle Beach, SC 29572Apache CampgroundResidential. 1905567 MLS. 00 or as much as $3,360. Powered By Inquiries. . It is similar to a hotel in that many times the building actually looks like a hotel, but each individual unit is. 2300 N Ocean Blvd. Learn more about local market trends & nearby amenities at realtor. 455. A condotel essentially is a condo that can be rented either by the night, the week, the month or multiple months, and is similar to that of a resort as the building has a front desk where people can walk up to book or rent a unit. I hear countless stories of confusion and people being ripped off by real estate agencies, who don’t have. An agent at Better Homes and Gardens Real Estate Elliott Coastal Living can help you look for your beach property today. Save time and money on finding your ideal accommodation with millions of reviews and photos on down condotels in Myrtle Beach. Poster. 2013 New Condotel Financing; Loan Process. 7, 2023. Great location!!!! just minutes from the beach, broadway at the beach, tons of dining options and golf courses. Trackback from your site. Dec. Condotel Financing and Non-Warrantable Condo Loans are Portfolio Mortgages are available with us at Florida Commercial Real Estate Loan Group. Call ☎ (800) 697-4371. Compare different loan programs, rates, and down payments for your new. A condotel allows you to be an owner without the stress of maintenance. 303% for a 15-year fixed, and 7. Established in 1985, Barefoot Rental Management provides residential property management services in Myrtle Beach as well as Surfside, Garden City, Murrells Inlet, North Myrtle Beach, Conway, Carolina Forest, and Little River. Jumbo Mortgages/Adjustable Rate Loans. The condo can even be 5 miles from the “check-in desk”. Myrtle Beach condotels are also a much better investment than timeshares, as timeshares are hard to sell, while condotels are in demand. Owner financing available beycome. can be an exciting and profitable venture, especially in a popular tourist destinations like Myrtle Beach, SC, Charleston, SC Ft. Blog Author and CEO. 32 days on Zillow. I know most of them are those condoels which apparently is an old term, but looking for insight. Or email us at gcho@gustancho. 843. Condo For Sale In Myrtle Beach, South Carolina. Wow! I didn't know what that was beforehand and now we can't even use the pre-approved loan to purchase it. South Bay Inn & Suites: 520 N. Get the scoop on the 1474 condos for sale in Myrtle Beach, SC. Special offer. - Homes for sale presented by the Beach Pro Team: 843. Sometimes one size doesn’t always fit all. * Extra Luxurious 1 - 7 Bedroom Condos & Homes. A: 1515. Coral Beach Bldg. This is a dramatic way of saying that these types of structures cannot be financed through fannie mae or freddie mac. 1605 S Ocean Blvd, Myrtle Beach, SC. Write a review. 1033 World Tour Blvd UNIT 105, Myrtle Beach, SC 29579. Mortgages for Condos and Condotel financing in Myrtle Beach. Available financing for vacation and 2nd homes up to 85% loan to value to $3,000,000. 2 Bed. Many of those visitors that come, buy and sell real estate which generates hundreds of millions of dollars in tax revenue for the state of SC. We’d like to buy stock in the company that charges 40% less expenses on someone else’s investment. 455. Most posts I've seen on this topic are old. com (800) 697-4371. Condotel financing cannot be financed through conventional loans. The. 161 Posts 128 Votes. There are 1,691 properties for sale in the city of Myrtle Beach . Destin, Miramar Beach, 30A and Panama City Beach Fl Condo Financing Questions. N Unit 1025, Myrtle Beach — Sand Dunes Phase Ii $214,500. 4712 Cobblestone Dr. In addition to the requirements above, any project with one or more of the following characteristics is ineligible. * Conveniently Located near Myrtle Beach & North Myrtle Beach courses & attractions. CONDO SPECIALISTS. This document expresses the opinion of Gene Carter, CDPE. Welcome. 1909 Hwy 17 S North Myrtle Beach in Causey's Mobile Home Park - View all 20 photos. Call Us: (843) 839-2430. Good value. View Details. Our Mortgage Experts. I was told there are lenders that will finance a studio condotel so any advice would be much appreciated. High LTV and Interest-Only Options. North Myrtle Beach, SC 29582. info. North Myrtle Beach. not a Non-Warrantable Condo loan) will fund up to 70% LTV nationwide, full documentation, 12 months PITI on all properties owned at close required, 680 min fico,. Condo hotels are typically high-rise buildings developed and operated as luxury hotels, usually in major. If you're looking for monthly condo rentals in Myrtle Beach, SC, book today with Condo-World! Arrive. Financing/Investment. IN the new home financing landscape created in this recession, certain categories of high-rise development are apparently. rare and we have it! Get a Condotel Loan Nationwide Codotel Loans A Condotel Loan (condo hotel, order condo-tel, Condo Hotel Financing, etc. Building or project needs to be more than or equal to 50% for commercial – this will be determined by the appraiser. The residents of South Carolina pay an average of $579 per year for condo insurance for a coverage level of $60,000 for personal property, $300,000 for liability protection with a $1,000 deductible. Apply Now and Get a Quote Today! Get more details. Sea Mist offers indoor & outdoor pools, a large water park, hot tub/spa, wading pool, lazy river, sun decks, mini golf, 90 seat movie t. Call ☎ (800) 697-4371. Now we’re seeking a publicly traded condotel management company. Months. Loan Amounts to $417,000. facebook; linkedin;. North Myrtle Beach Waterfront/Oceanfront Condominiums for Sale. Sand Dunes Resort Condos For Sale. 2013 New Condotel Financing; Loan Process. Sheraton Myrtle Beach Convention Center Hotel. 4785 - I just got back from Myrtle Beach SC and I'm ready to purchase a condotel. $350,000. I just got back from Myrtle Beach SC and I'm ready to purchase a condotel. Website. * Only AAA 4 Diamond, 5 Star Resort in the area. 3 Beds. 475 sq ft. 9670 Shore Dr. UNIT #103 North Myrtle Beach in Ocean's Edge Townhomes - View all 38 photos. Condotel Financing Guidelines. Borrowers can also email me at gcho@gustancho. Blissful Mortgage is your Condo Mortgage loan experts with 17 years of experience. Many national, big named banks will not finance a condotel. Unit 1-904, North Myrtle Beach — Yacht Club Villas $619,999. The Grand Strand is known for its famous golf courses and country clubs. Questions: 803-998-1000. Loan Application. 2009. LOCATION. Condotel Financing began to be a very popular idea around 2001, because of difficulty in funding a Condotel Loan higher than 50% of the Condotel purchase price. The largest property for sale is 3,174 sqft and smallest 307 sqft. I. (843) 492-4030. A condo insurance policy protects what your homeowners association (HOA) doesn’t. Bahama Sands Luxurious Oceanfront and Ocean View Condos. Prestwick, SC Home for Sale. Condotel Financing Florida Mortgage Rates; Today's Condotel Florida Mortgage Rates; Live Condotel Mortgage Rates. condo with a list price of $179000. No Exp. Mortgages. 1 Baths. 19 Properties in Myrtle Beach from $119,000. is 10 Pointe Drive, Suite 330, Brea, CA 92821; Phone: (714) 831-4000 (NMLS ID. (843) 213-1720 (843) 213-17274066-A Taranto Loop UNIT 5101-A Myrtle Beach in Bella Vita Garden Homes - View all 39 photos. Some Myrtle Beach real estate agencies can only show certain areas, but we are not restricted. Contact us today at 843-232-7321!5905 South Kings Hwy Unit A418, Myrtle Beach, SC 29575. 7. Loan Products. Unfortunately, your hometown lender is not going to have such a program but the lenders on. 1 Bed. Our Myrtle Beach real estate agents can help you find new construction homes, resale real estate, primary residence, second home, 55 plus retirement, Oceanfront, Intracoastal Waterway, Golf Course, bank owned homes, or commercial property. com. We also offer our Condo/Condotel Lender List and Closed Sales Histories (Details for every sale since 2009 for over 180 resorts). Super comfortable and fully furnished, this u. 7100 N Ocean Blvd #1126, Myrtle Beach, SC 29572. How to Avoid a Loan Denial New Changes To Condo Lending as of Dec 7th, 2020. . Receive the Beach Pro Team’s current list of local. Office: 800-872-4488. Suggestions on loan resources for condotels in the Myrtle Beach area? Give us a call Jerry Pinkas Real Estate Experts 843-839-9870. Spend your time in the warmer weather enjoying this Beautiful home located in the permanent section of the KOA Campground!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. 3500 N Ocean Blvd. Grand Theatre and Art Museum of Myrtle Beach are cultural highlights, and some of the area's attractions include SkyWheel Myrtle Beach and Wild Water and Wheels. 20%. An agent at Better Homes and Gardens Real Estate Elliott Coastal Living can help you look for your beach property today. Call ☎ (800) 697-4371. Currently, there are 224 ACTIVE Condo Listings at this time for the Honolulu Condo Hotels for Sale category. 00, with the average rent median estimated to be $1,250. Airport (MYR) airport, the closest popular airport to the property. Bedroom in Myrtle Beach SC. Condos and Homes for Sale in Myrtle Beach. 1025 Highway 17 South. Visit hotel website. Borrowers can also email me at gcho@gustancho. 201 S Ocean Blvd #905, Myrtle Beach, SC 29577. Get ongoing access to funds with a home equity line of credit by itself or combined with a first mortgage. Enjoy oceanfront views from this 7. When this happens, I am able to obtain a regular,. Myrtle Beach - Click Below For Columbia. View current Myrtle Beach, SC mortgage rates from multiple lenders at realtor. Generally, I am able to review the condo project, and determine that the out-of-market lender is incorrectly classifying the condo project as a condotel. UNIT #1101 North Myrtle Beach in North Shore Villa - View all 40 photos. Located in the heart of Myrtle Beach, The Caravelle Resort Myrtle Beach SC makes it easy to enjoy all of the delicious restaurants, golfing, adventure, shopping, and entertainment that the Grand Strand has to offer. 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 Freddie Mac. Owner financing available! No hassels with condotel financing! Direct Oceanfront Efficiency Unit. When people book a short-term rental, they typically. This ground level 2-bedroom condo is located. 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. 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. Investment property loans Commercial & Residential Condo Hotel Loans. North Myrtle Beach, SC 29582. Financing Condos in Myrtle Beach. Unit 1008, North Myrtle Beach — Prince Resort $355,000. Just as importantly, you should know that loans for condos usually come with slightly higher interest rates. - Homes for sale presented by the Beach Pro Team: 843. 4. 201 W Passaic Street Rochelle Park, NJ 07662 Phone: (800) 876-5626 [email protected] Condotel. Unit owners also have the option to place their unit in the hotels rental program where it is rented out like any other hotel room. . This ground level 2-bedroom condo is located. Get a condo insurance quote online or call for advice. Condo hotels are without doubt the most intelligent investment I've ever undertaken, and this investment has helped with some significant returns. Condotels are condos that are run as resort properties and offer amenities such as check-in desks, maid services, room service, etc. PRIME DIRECT OCEANFRONT 1 bedroom 1 bathroom furnished unit for sale in Dunes Village Resort. $350,000. Nestled in the heart of Myrtle Beach next door to the famous Sea Mist Resort and Landmark Resorts guests can find an oasis where family, fun, surf, and sun all go hand in hand. Discover genuine guest reviews for Condotels Golf Colony along with the latest prices and availability – book now. One Ocean Place Bldg. 1 Beds. Source: acmg. A condotel owner purchases a unit within the property and uses it as a second home or vacation spot. The list is based on the Beach Pro Team's years of experience and expertise in condo financing. Fannie Mae does not mind nightly. 613-610 5th Ave. Owner Financing This property will be on the market for a limited time This gorgeous 4-bedroom, 3 bath home is located in Francis Marions. Myrtle Beach was the 2nd biggest golf town in America behind Orlando for years, and we haven't even touched on what Hilton Head means to the SC economy. 36 homes. Looking for reasons to do it or not do it. 6 Listings from $218,000. Lastly, most out-of-town lenders are not going to have a condotel loan program available in the event that the condo is accurately classified as a condotel. Contact BrickWood Mortgage today at (843) 314-4101. 161 Seawatch Drive, Myrtle Beach, SC 29572. Or you can find a $1. CCNB offers several flexible checking and savings accounts so you can live on your own terms and find an account that suits you best. 3 baths. (843) 315-2535. 386 sqft. 161 Seawatch Drive, Myrtle Beach, SC. Apply for a Condotel Loan in Miami Through Lending Bankers Mortgage. Print . Source: activerain. Breakers Resort - Myrtle Beach Condos for Sale. (843) 796-1358. Fast Closing and Flexible Underwriting. Columbia, SC 29210. 426% for a 30-year fixed, 6. 503. Investment property loans Commercial & Residential Condo Hotel Loans. Condotel Financing – As Good As It Gets? Newsletter – July 2013 Loans made or arranged pursuant to California Financing Law. Or email us at gcho@gustancho. Maximum 75% LTV. Myrtle Beach, a scenic oceanfront community in South Carolina, offers both guests and residents miles of beaches, inland waterways, more than 100 golf courses, and activities for all ages. Investor. You can also use this residence for ready and steady rental income. Generally speaking, only lenders with in-house programs designed for condotels can finance condotels. We also offer our Condo/Condotel Lender List and Closed Sales Histories. Help getting approved for a mortgage loan for a condo in Myrtle Beach SC (Also applies to all condos in SC). I own a condotel unit in Myrtle Beach, SC and have found that they are not a source of ‘easy money’ based on rental income. The project. Beach Pro Team, Gene Carter REALTOR. Reasons To Refinance; Pre-Approval; Unlike hotels, where a corporation owns the whole hotel, in condotels each unit is sold separately similar to a condo. What a unit owner owns is typically different than what a unit owner owns in a typical. Located on the new Myrtle Beach Boardwalk in South Myrtle Beach, Bay View Resort features 2, 3 and 5-bedroom condos in a 25-story. Until, you find out, usually the week before closing, the underwriter for the lender, says they don’t do condotels, they only finance condos! Seen it happen hundreds of times with inexperienced real estate agents and consumers. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy ed-Full Kitchen!! Coral Beach Resort is Continually voted BEST RESORT ON THE BEACH!!. Show more. Lauderdale, FL, etc. Coral Beach. Financing/Investment. Depart. Myrtle Beach condotel financing guidelines made easy Our flexible options and expert guidance ensure a seamless experience. Oceanfront Condo - North Myrtle Beach, SC Home for Sale. A grassroots organization made up of legacy property owners in Atlantic Beach are suing town leaders and a developer with plans to build a $100 million high rise hotel along prized beachfront land. 5 days on Zillow. After all annual fees are paid ie. . Stay in touch with us at 843-999-0575 or email. SOUTHERN COAST INSURANCE GROUP INC 4420 Oleander Dr Ste 104 Myrtle Beach, SC 29577 Get Map Phone: 843-839-5076 Fax: 843-353-0785 Contact Us2 BDS | 2 BA | 1,100 SQFT. Wells Fargo Bank. The spacious oceanfront and ocean view 2 and 3 BR floor plans feature granite. 1207 S Ocean Blvd. We also offer our Condo/Condotel Lender List and Closed Sales Histories. Pick the perfect place where watching the ocean from your balcony completely soothes your soul and encourages you to sit for hours and meditate. An Atlantic Beach town council candidate spent six years in federal prison following a 2007 conviction on multiple drug charges in Virginia, according to court records. net. 00. Powered By Beach condotel financing guidelines made easy Our flexible options and expert guidance ensure a seamless experience. Brighton Tower Overview. 813 2nd Ave N, North Myrtle Beach, SC 29582; M - F 8am -5pm (843) 444-LOAN (5626).