acceptmtg
Oct 3 2005, 01:46 PM
I am a mortgage broker and I need financing for over 400 condotel units here in Chicago and in Florida. Our clients are strong buyers with credit scores of at least 650 and most over 700. The units will have kitchenettes and excellent management for the voluntary rental pool. What we would like to see for financing is 80%LTV or higher and Interest Only option (Option ARM if possible). We have 2 more projects coming within the next 2 months, one in the Virgin Islands (St. Croix) and another in Mississippi. We are hoping to form a strong relationship with one or two lenders or investors that can help us grow and make a bunch of money at the same time.