Looking to get into a lodging property before the start of the season but don’t want to carry the mortgage over the winter?

carrying a mortgage over the winter, local lenders, maine hospitality lending, seasonal mortgage / By

Did you know that some lenders will offer seasonal mortgages, where you make 4-6 large payments through the busy season and no payments in the slow season? We have several banks here in Maine that have hospitality properties in their portfolio and will offer seasonal mortgages. These lenders understand the nuances of tourism in Maine and work with business owners to work around them.

This gives you time to settle in, decide what changes you want to make, implement those changes and begin to market your changes in time for the start of the season. Sound ideal?

AND, closing on a property in the slow season makes you a very attractive buyer in a seller’s eyes!

Contact me if you would like to find out more about this option.

Commercial Interest Rates Today

The rates we have been seeing in hospitality and commercial lending in Maine for years had been relatively and historically low for commercial loans. However, in recent times they have increased quite a bit. Contact me to discuss current rates we are seeing with our hospitality lenders.

Did You Know?

Not everyone who is a licensed real estate agent is a Realtor®?

A Realtor® is a licensed real estate salesperson who belongs to the National Association of Realtors®, the largest trade group in the country. Realtors® are held to a higher ethical standard than licensed agents and must adhere to a Code of Ethics. Some Realtors® are brokers, while some are associate brokers or sales agents. These are varying levels of education, licensing and often responsibilities.

 

And hospitality ‘Consultants’ or ‘Brokers’ who are not licensed in the state of Maine are not held to any standards the way we are here as licensed Realtors® in Maine, where consumer protection is paramount.

 

I am a REALTOR®, a real estate professional who has taken the extra step to belong to the National Association of REALTORS®. Through membership, I abide by a Code of Ethics and have gained expertise to help you navigate one of the most complicated and important transactions you’ll make in your lifetime.

 
Ethics, Expertise and Education – the REALTOR® difference at work for you.”

 

Dana Moos, Hospitality Investment Broker, Realtor®
Representing Hospitality Buyers and Sellers Statewide Since 2008
Director of Lodging and Hospitality Brokerage, Swan Agency Real Estate
www.danamoos.com      207.266.5604     dana@danamoos.com     dana.moos@swanagency.com
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