Hotel Condo Mortgages for Buyers

Condo Hotel is a new trend that most lenders have not taken the time to understand and will not finance. With condo units with less than 600 square footage, and often without traditional kitchens, condo hotels are unique lifestyle choices.

(PRWEB) September 12, 2005 -- Baby Boomers are proving to be the target market for condo hotel developers. Condo Hotels are typically upscale projects with rich amenities like spas, workout facilities and in resort or highly desirable central business district locations. "Florida, Chicago, Colorado, Las Vegas, and Michigan all have projects we will to finance" says Bob Waun, CEO of Vacation Finance. Waun presented on a panel with industry leaders from financiers like Fortress Capital, BRT Realty, and Canyon Capital at the IMN Condo Hotel conference in Miami this week to over 600 key industry participants. The conference sold out weeks after announcement.

"The response at this conference to our Interest Only TRUE CONDO HOTEL mortgages were actually better than expected - and we expected a lot of excitement, because no loan like it exists for condo hotel presently" Waun claimed.

Vacation Finance, a division of Americor Financial and Vacation Finance Wholesale, a division of Flower Bank, FSB have the ability to lend to condo hotel projects in all 50 states up to 80% LTV financing. "Condo Hotel Projects must be approved before lending operations can begin, but we have made the process simple because these are portfolio loans, not FNMA saleable." said Thomas Balames of Vacation Finance, "our unique timeshare and fractional loan products are also going to create an industry buzz when we roll them out at the Leisure Real Estate Conference next month in Chicago."

To learn more about the unique loan offerings by Vacation Finance visit www.vacation-finance.com

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