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Success at Colony Villas: Conforming Loans Possible After Removal of “Condotel” Status

As many owners and would-be buyers know, obtaining financing for a purchase at Colony Villas condos has not always been easy. In a recent purchase at Colony Villas, I worked diligently with a team of specialists including: the AOAO, the title company, the colony villas property manager, and a very persistent representative at Wells Fargo Home Mortgage (kudos to her) to have the classification of condotel removed so that buyers at Colony Villas can now qualify for conforming loans.

Colony Villas #1405

Colony Villas had been incorrectly classified by Fannie Mae and Freddie Mac as a condohotel ever since Aston was the on-site manager. Colony Villas now has an accurate designation with those two federal institutions.

Colony Villas-4

Colony Villas #2403

That successful transaction has opened new doors and changed the future financing landscape for this entire condominium complex.

Photo for CV 202

Colony Villas #202

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Beth Thoma Robinson

November 13, 2015

Thanks for the update!

Beth Thoma Robinson

November 13, 2015

Thanks for the update!

Dave Minkus

November 13, 2015

That is GREAT NEWS! Thanks to all of you for the hard work to get that corrected.

Dave Minkus

November 13, 2015

That is GREAT NEWS! Thanks to all of you for the hard work to get that corrected.

Jan Nores

November 13, 2015

Aloha Erika,
That is such great news for Buyers and Sellers at Waikoloa Colony Villas, thank you for your hard work~
Best,
Jan Nores

Jan Nores

November 13, 2015

Aloha Erika,
That is such great news for Buyers and Sellers at Waikoloa Colony Villas, thank you for your hard work~
Best,
Jan Nores

Erika Stuart

November 28, 2015

So glad to hear that other lenders are also on board and other complexes also seem to have more lending options available now, which makes for more happy buyers and happy sellers!

Erika Stuart

November 28, 2015

So glad to hear that other lenders are also on board and other complexes also seem to have more lending options available now, which makes for more happy buyers and happy sellers!

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