What exactly is a condotel?

A condotel is a condo unit inside a building that operates like a hotel - with a front desk, housekeeping and a rental program that rents units out nightly. You own the unit outright as a condo, but the building runs on hotel operations, which is what makes financing different.

Can you get a mortgage on a condotel?

Yes - just not a conventional, FHA or VA loan. Condotels are financed through specialized portfolio and Non-QM programs, including DSCR loans for investors. We broker several of them and match your unit to the one whose rules it fits.

How much down payment do I need for a condotel?

Typically around 25% down on a purchase (up to roughly 75% loan-to-value), though it's program-dependent and can vary with your credit, occupancy and the project. Cash-out refinances usually require more equity.

Can I use short-term rental income or Airbnb income to qualify?

On a DSCR condotel loan, yes - you qualify on the unit's rental income rather than your personal tax returns, and eligible programs count short-term and nightly rental income. It's the most popular way investors finance resort units.

Can I buy a condotel through an LLC?

Yes, on investment (DSCR) programs you can typically close in an LLC. Second-home purchases in your personal name are also available on eligible programs.

Is a condotel a good investment?

It can be, in the right resort market - a condotel can throw off strong nightly rental income and give you a vacation property that helps pay for itself. The trade-offs are a higher rate, a larger down payment, HOA and rental-management fees, and a narrower resale buyer pool because the financing is specialized. A good reality check is to run it as a DSCR deal, where the rent has to cover the payment. This is general information, not investment advice.

Do condotels have higher rates?

Somewhat. Because condotels are non-warrantable and priced as specialty loans, the rate and down payment run higher than a standard condo. For many buyers, the rental income the unit generates makes the math work anyway.

Do all condos need a full review now?

No - that's a common misconception. Limited Review is retired for established projects, but small projects of 10 or fewer units can often use a waiver of project review, and some transactions still qualify for other exemptions. More buildings will face a full review than before, but not every condo does.

What was a Limited Review for a condo?

It was a streamlined approval path that let lower-risk transactions - typically larger down payments - skip the deep financial review of the HOA. It's now retired, so those projects go through the Full Review process instead.

Is my building still warrantable?

It depends on the project's reserves, insurance, litigation and ownership mix under the new Full Review standards. Some buildings that were non-warrantable are now easier to finance because the investor-concentration cap was removed; others may struggle with the stricter reserve rules. A free pre-screen is the fastest way to find out.

Does this change affect FHA and VA eligible condos?

No. This update applies to conventional (Fannie Mae and Freddie Mac) financing. FHA and VA approve condo projects through their own separate systems, so a building that struggles with conventional review may still work with an FHA-approved or VA-approved project.

What if my building can't pass the new review?

You still have options. Non-QM and portfolio lenders use their own project guidelines instead of Fannie or Freddie's, which often makes a non-warrantable building financeable. That's our specialty - send us the project and we'll find the path if there is one.

When exactly are these changes coming into effect?

The insurance deductible cap became mandatory July 1, 2026, Limited Review retirement and the stricter reserve-study rules on August 3, 2026, and the higher 15% reserve minimum on January 4, 2027. The investor-cap removal and small-project waiver were available immediately when the rule was announced in March 2026.

Is it harder to get a mortgage on a condo than a house?

Not harder for you - there's just one extra approval: the project. The lender reviews the HOA and building alongside your file. Most condo surprises come from the building, which is exactly why we pre-screen it up front.

What's the difference between a warrantable and non-warrantable condo?

Warrantable projects meet Fannie Mae or Freddie Mac rules and get standard conventional, FHA and VA financing at the best rates. Non-warrantable projects don't fit those rules, so they need a portfolio or Non-QM loan. It's about the building, not the unit or the buyer.

Can you use an FHA or VA loan on a condo?

Yes - if the project is on the FHA or VA approved list. If it's not, we look at conventional or Non-QM options. We can check a building's approval status as part of the free pre-screen.

Do condos have higher mortgage rates?

A warrantable condo prices about the same as a house. Non-warrantable projects and condotels carry a higher rate because the lender takes on more project risk - but the gap is often smaller than people expect.

How long does condo project review take?

It depends on how fast the HOA returns documents. A warrantable review can be quick; a full review of a complex project takes longer, and after the August 2026 rule change more buildings need the deeper review. Starting the pre-screen early keeps your closing on track.

Can I finance a condo as an investment property?

Yes. Investors typically use a DSCR condo loan that qualifies on the property's rent instead of personal income, and you can close in an LLC. Short-term-rental income can be used on eligible projects.

What does a non-warrantable condo mean?

It means the condo project doesn't meet Fannie Mae or Freddie Mac's guidelines, so the agencies won't back a loan on it. The unit is financed with a portfolio or Non-QM loan instead. It's a statement about the building, not the buyer or the unit.

What makes a condo non-warrantable?

Common triggers include high investor concentration, one owner holding many units, too much commercial space, low presale on new construction, condotel or short-term-rental operations, HOA litigation, and inadequate reserves or insurance. Any one of these can be enough.

Is a non-warrantable condo a bad investment?

Not necessarily. Many non-warrantable buildings are perfectly good properties that simply have a lot of rentals, some commercial space, or are brand new. What matters is the specific reason - a paperwork issue is very different from an active structural problem.

How can I tell if a condo is non-warrantable before I make an offer?

You typically need the HOA questionnaire, budget, insurance and litigation status - it's not visible in the listing. The fastest way is a free lender pre-screen: send us the project and we'll tell you where it stands before you're under contract.

Can I get a mortgage for a non-warrantable condo?

Yes, in most cases - through portfolio and Non-QM programs, for primary residences, second homes and investment properties. The main exceptions are buildings with active structural, safety or critical-repair problems. See our non-warrantable condo loan options for details.

Do non-warrantable condos have lower rates?

Generally yes. Warrantable projects qualify for conventional financing at standard rates. Non-warrantable loans carry somewhat higher rates because the lender takes on more project risk - though the gap is often smaller than buyers expect.

Can I finance an investment property in Ohio through Andes?

Yes. Andes originates business-purpose investment property loans on non-owner-occupied Ohio real estate — including DSCR loans, cash-out refinances, investor HELOCs, and short-term rental financing. These loans qualify on the property's rental income, so there are no tax returns and no personal debt-to-income calculation.

Does Andes offer owner-occupied or consumer mortgages in Ohio?

No. In Ohio, Andes offers business-purpose investment loans only — financing for rental and other non-owner-occupied property. We do not originate owner-occupied, primary-residence, or other consumer-purpose mortgages in Ohio.

What is a business-purpose (investor) loan?

A business-purpose loan finances property held to generate income or profit — a rental, a BRRRR project, a short-term rental — rather than a home you live in. Because the loan is underwritten on the property's cash flow and business use, it follows different rules than a consumer mortgage, and the property is typically non-owner-occupied.

Which Ohio markets are best for rental investing?

The four metros investors ask about most are Columbus, Cincinnati, Cleveland, and Dayton. Columbus and Cincinnati carry higher prices with strong demand and appreciation potential, while Cleveland and Dayton offer lower entry prices and higher yields where deals commonly clear a 1.0+ DSCR on rent alone.

Can I buy an Ohio rental property through an LLC?

Absolutely. You can title your property to an LLC using our DSCR loans in Ohio. For more information on having a business own the property, visit our DSCR LLC page .

Home » Georgia Mortgage Broker » Dunwoody

local mortgage broker & guidance

Dunwoody Mortgage Broker & Home Loans

Buying a home in Dunwoody, refinancing an existing property, or looking for a mortgage that works with self-employment or investment income?

Andes Mortgage helps Dunwoody homebuyers, homeowners and real estate investors compare mortgage options from multiple lenders instead of being limited to one bank.

Servicing Dunwoody and the greater Metro-Atlanta area
Nearby Perimeter-area office
We shop multiple wholesale lenders for you
Conventional, government, Non-QM and Jumbo loans
Bilingual help available

45+

Lending partners

2013

In business since

Sandy Springs Office

Our HQ

110+

Five-star ratings

Current mortgage rates in Dunwoody, GA

Live · updated 1 second ago

30-yr fixed

7.04%

7.045% APR

15-yr fixed

6.411%

6.428% APR

FHA 30-yr

6.548%

7.572% APR

VA 30-yr

6.649%

6.871% APR

National averages · not a commitment to lend

START WITH YOUR GOAL

Buying a home in Dunwoody, GA? - Andes Mortgage has several options

Choose the type of mortgage that fits your profile best. Your down payment, credit profile, income, property type and long-term plans can all affect which financing option makes the most sense.

See whether a grant, forgivable second mortgage or another assistance program may fit your purchase in Atlanta.

Flexible financing for first-time and repeat buyers with traditional qualifying income. The most common option for Dunwoody homebuyers.

Government-backed financing with flexible credit scores from the 520’s and down payments as low as 3.5% for Atlanta homebuyers.

Use your VA benefits to purchase a home with $0 down in Atlanta. Eligible veterans, active-duty borrowers and qualifying surviving spouses apply.

Financing options for higher-priced homes when the required loan amount exceeds conforming limits. Suitable for those areas in Dunwoody with higher property prices.

Outside-the-box lending for those with complicated self-employed income and recent credit events. Loans up to $4M available.

Loans for Dunwoody and metro-Atlanta real estate investors that don’t need personal income to qualify.

Looking to build your dream home around Dunwoody or Atlanta? We can help you get the financing you need to acquire the land and build a custom home.

more ways to qualify

Self-Employed, Investor and Asset-Qualifier Mortgage Options

Traditional tax-return income is not the only way a mortgage borrower can qualify. Andes Mortgage works with lenders offering alternative documentation and investor programs for borrowers whose finances do not fit neatly inside a traditional mortgage box.

Bank Statement Loans

Alternative income documentation for qualifying self-employed borrowers using eligible bank deposits.

Explore bank statement loans ->

Profit & Loss Loans

Some business owners may qualify using a qualifying profit-and-loss statement.

Explore P&L loans ->

Asset Depletion

Eligible assets may be converted into qualifying monthly income for certain mortgage programs.

DSCR Loans

Rental-property financing focused primarily on property cash flow rather than employment income.

Non-QM Jumbo

Large financing for borrowers who need income flexibility beyond what typical bank Jumbo loans offer

See jumbo loans ->

Non-QM Loans

More solutions for complex income, assets and real-estate-investment scenarios.

Explore our Non-QM hub ->

Refinance & home equity

Loan options for Dunwoody, GA homeowners

We can help you compare refinance and home equity options from multiple lenders, whether your goal is to lower your monthly payment, consolidate debt, fund renovations, or access your home equity

Change the rate and terms of your Dunwoody home.

Explore a lower rate or remove PMI from your home.

Tap the equity of your Dunwoody home and pay off unsecured, high interest debt.

Access equity without changing the terms of your current mortgage with a HELOC.

Access equity with a fixed-rate and payment loan.

Explore options for home renovation and rehab

more ways to qualify

Not sure which mortgage fits? Let us do the sorting.

Mortgage guidelines get complicated fast. Answer a few straightforward questions and Mortgage Match will point you toward loan options worth exploring.

local neighborhoods

Popular neighborhoods in Dunwoody, GA

Dunwoody offers several very different types of residential living within a compact area—from established single-family neighborhoods with larger lots to condos, townhomes and newer residential development around Perimeter Center.

Dunwoody Village & Mount Vernon

Established single-family homes, larger lots, mature neighborhoods and traditional suburban housing.

Perimeter Center

Condos, townhomes, newer residential development and higher-density living close to major employment, shopping and dining.

Georgetown & North Shallowford

Established neighborhoods alongside attached housing, commercial development and newer redevelopment opportunities.

Dunwoody North & Winters Chapel

Established suburban neighborhoods and single-family housing rather than the denser Perimeter Center lifestyle.

Looking to buy or refinance in Dunwoody?

Compare low down payment, move up or down options or look into refinancing your mortgage.

MORTGAGE CALCULATORS

Calculate your Dunwoody home purchase or equity options

Explore payments, buying power, closing costs, refinance savings and home-equity scenarios using tools designed around how mortgages actually work.

Our flagship mortgage calculator. Estimate principal, interest, taxes, insurance and PMI.

Estimate a comfortable price range using income, debts and available funds.

Estimate lender, title, prepaid and Georgia specific taxes.

Compare the new payment, breakeven point, costs and potential savings.

Estimate draw-period and repayment-period payments for a HELOC.

Run the numbers on your Dunwoody/Perimeter investment property.

THE BROKER ADVANTAGE

Why work with a Mortgage Broker in Dunwoody?

A bank generally offers the mortgage products and pricing available through that institution. Andes Mortgage can compare options from multiple wholesale lenders.

Typical Bank

Andes Mortgage

Compare options across multiple wholesale lenders
Traditional, government, jumbo and self-employed Non-QM programs
Not tied to a single rate sheet - we compare over 45 different lenders
Close in as little as 12 days.
Available after business hours and on weekends

Nearby andes mortgage office

We are not far from Dunwoody - Just a couple of of blocks away

Sandy Springs is our home turf but Dunwoody is our next door neighbor.

Andes Mortgage serves Dunwoody homebuyers and homeowners from our nearby office in the Perimeter area.

1 Concourse Parkway

Suite 800
Atlanta, GA 30328

With Andes, you are not dealing with a massive call center in another state. We are here with you, just minutes away in Perimeter next to the King & Queen buildings.

Call us: 770-740-4050

Andes Mortgage LLC

NMLS #2187991

Real people, real closings

5/5

100+ ratings

We loved working with Marcos and his team! They are all very friendly, on top of details, and a pleasure to work with. We are first time home buyers, and Marcos took his time to educate us on the steps we needed to take to improve our credit and financial situation in order to be well prepared to buy a home. Once we were ready, he educated us in the home buying process, and made everything very easy. His rates were also much lower than others we saw. We would recommend his services to anyone looking for a lender! Our very experienced realtor was even very impressed with how smooth and quick the process was with Andes Mortgage!

Let’s just say Andes Mortgage as our broker was the best decision we made. We worked with Marcos who explained the process very well and was available when we had questions. Our realtor was the one to refer him to us. They definitely work fast and we closed within two and a half week of going under contract. His entire team was great and communicated well. We will definitely work with them in the future.

Being first time home buyers and going through the process first time, it was quite overwhelming beginning the process…. Until our paths crossed with Marcos! He was kind, professional, honest, friendly, welcoming, and made the entire process seamless and smooth for us! Not to mention, he earned our trust right off the bat!! It’s refreshing to be in the hands of someone who actually has our best interest at heart and puts his clients first. We’re forever grateful for Marcos and will continue to recommend him to any and ALL of our friends and family who are looking to apply for home mortgages!!!!

Working with Marcos has been such a good experience. He helped me a lot during my initial purchase and also now during my refinancing process. He always keep you informed either by phone, mail or text. If you are looking to buy a house or refinance, he is definitely the option!

MEET ANDES MORTGAGE

Mortgage advice from people who actually know the guidelines.

Marcos Zambrano founded Andes Mortgage to give borrowers access to more programs, clearer explanations and a less frustrating mortgage experience.

The team helps first-time buyers, homeowners, self-employed borrowers and real estate investors navigate everything from conventional financing to complex Non-QM scenarios.

You do not need to know which loan you need yet.

Tell us what you are trying to accomplish. We’ll help you compare the options, understand the numbers and determine the best next step.

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