Dive deeper into how these advantages are transforming strategies for investors at all levels, unlocking the doors to substantial returns and financial growth.
Get pre-qualifiedCustomize your investment with loan programs designed for various levels of experience and financial goals, ensuring a perfect match for your ambitions.
Take advantage of lower interest rates to increase your investment's profitability and long-term growth potential.
Navigate the complexities of CondoTel investing with insights from our seasoned professionals, enhancing your decision-making and investment outcomes.
Our 25% down payment initiative makes it easier to start investing, unlocking opportunities in the CondoTel market with reduced upfront costs.
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Join us for an exclusive webinar where we unveil the secrets to successful CondoTel investments in Myrtle Beach. Discover how to navigate the market, maximize returns, and make informed decisions with our expert insights.
Grasp the fundamentals of CondoTel investments and market dynamics.
Learn how to smartly finance your CondoTel for maximum ROI.
Gain insider knowledge on Myrtle Beach’s booming real estate scene.
This is not a commitment to lend. Consumers are advised to obtain a Loan Estimate. Rates are subject to change and are dependent on credit and underwriting criteria.
Your actual rate, payment and costs could be higher. Guaranteed Rate cannot predict where rates will be in the future. Sample rate provided for illustration purposes only and is not intended to provide mortgage or other financial advice specific to the circumstances of any individual and should not be relied upon in that regard. Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate. Guaranteed Rate, its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.
With our tried and tested loan process, your clients can get pre-approved for their mortgage in just 5 easy steps:
After a consultation, each borrower will fill out an application and the first step is to take a look at their credit history. This will be the start of our home buying journey together.
Once the application has been submitted, our team will be sending a list of items needed to finish pre-approval. Some of the basic items that will be needed:
1. Drivers license/Identification
2. 2 years of W2 forms
3. 2 months of bank statements
4. 2 years of tax returns
5. 1 months of paystubs
Once we receive all their documents, we review and see which loan programs would best fit. This process can take 24-48 hours to complete.
Once we are done with our analysis, we can typically come up with 2-4 options to move forward with the home purchase. We review the options with the borrower so they understand all the important facets of buying your home i.e monthly payment, cash to close, and what the mortgage means to them so they feel more confident with your their purchase.
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply.
We’ve helped thousands of home buyers just like you. Find out what people are saying about the expert service they’ve found at Revolution Mortgage!
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Discover the keys to successful CondoTel investing with our
comprehensive guide to your frequently asked questions.
CondoTel financing is a loan program specifically designed for investors looking to purchase condominium units that operate similarly to hotels. These programs are tailored to meet the unique demands of the CondoTel market in Myrtle Beach, offering investors an opportunity to capitalize on the area's thriving tourism industry.
Eligibility for CondoTel financing typically hinges on several factors, including your credit score, the down payment you can afford, and your overall investment strategy. Lenders may also consider the financial health of the CondoTel development itself.
Investing in a CondoTel involves purchasing a unit within a building that offers hotel-like amenities and services. Investors can use their units personally or rent them out, leveraging the property management’s marketing and operational support to generate income.
The main advantages include the potential for rental income, opportunity for property appreciation in a sought-after location, and the ability to diversify your investment portfolio. CondoTels also offer the convenience of professional property management.
Yes, our loan programs can accommodate investors looking to finance multiple CondoTel units. This approach allows for greater diversification of your real estate portfolio and can enhance your investment returns. However, financing terms may vary based on the number of properties and your financial profile.
*This is not a commitment to lend. The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, and hazard insurance. The borrower must maintain the home. If the borrower does not meet these loan obligations, then the loan will need to be repaid. Otherwise, the loan must be repaid when the last borrower passes away or sells the home. Prices, guidelines and minimum requirements are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will qualify for financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financing decision. This material has not been reviewed, approved or issued by HUD, FHA or any government agency. <COMPANY NAME> is not affiliated with or acting on behalf of or at the direction of HUD, FHA or any other government agency. To find a Reverse Mortgage counselor near you, search the HECM Counselor Roster at https://entp.hud.gov/idapp/html/hecm_ agency_look.cfm or call (800) 569-4287
Charges such as an origination fee, mortgage insurance premiums, closing costs and/or servicing fees may be assessed and will be added to the loan balance. The loan balance grows over time, and interest is added to that balance. Interest on a reverse mortgage is not deductible from your income tax until you repay all or part of the interest on the loan. Although the loan is non-recourse, at the maturity of the loan, the lender will have a claim against your property and you or your heirs may need to sell the property in order to repay the loan or use other assets to repay the loan in order to retain the property. You should know that a reverse mortgage is a negative amortization loan which means that your mortgage balance will increase while your home equity decreases if you do not make principle and interest payments on your loan. This may make it more difficult to refinance the loan or to obtain cash upon the sale of the home. However, you will never owe more than the home is worth when the loan is repaid.
Getting approved for a VA loan begins with taking a look at your unique situation.
Getting approved for a VA loan begins with taking a look at your unique situation.