Resort Condo · Vacation Home Purchase
Resort Condo Loan Calculator
Quick answer: A resort condo payment is principal and interest plus property tax, insurance and the association's fees, and short-term rental income can offset part of it. Some resort condos qualify for conventional second-home financing, but many don't because of short-term rental activity or the association's budget or occupancy, so the down payment and rate depend on your lender and the project. Enter both from your term sheet to see cash to close, net monthly cost and rent coverage.
Built by Jim Blackburn · NMLS #1072866 · $500M+ closed · 7× Scotsman Guide Top Producer
Enter the down payment and interest rate from your term sheet to see your payment. If you'll rent the unit, also enter the management fee you'll pay. Price, fees, taxes, insurance, rent and closing costs start with example amounts; replace them with yours.
The resort condo and loan
Down payment on a resort condo varies by lender, so use the percentage on your term sheet. Closing costs: lender, title and prepaid charges from your Loan Estimate or term sheet.
Monthly ownership costs
Short-term rental income (optional)
Use a yearly average: busy and slow seasons can differ a lot. The management fee is the percentage a manager, resort rental desk or service keeps; enter 0 if you'll manage it yourself. Set rent to 0 if the condo will be a second home you don't rent.
Enter your down payment and interest rate
Estimates only — not a commitment to lend or a Loan Estimate. Jim Blackburn, NMLS #1072866.
How This Resort Condo Loan Calculator Works
The loan amount is the price minus your down payment, and principal and interest is the amortizing payment at the rate and term you enter. Add monthly property tax, insurance and association fees for PITIA. If you plan to rent the condo short-term, enter a yearly-average monthly gross and the management fee you'll pay; the calculator subtracts the fee to get net rent, then shows the cost left after rent and how much of PITIA the rent covers. Leave rent at 0 for a second home you'll keep for yourself.
Example: $3,800 a month in averaged gross rent with a 25% management fee leaves $2,850 net. If PITIA is $4,000, coverage is 2,850 ÷ 4,000 = 0.71×, and you'd cover about $1,150 a month yourself before cleaning, repairs and vacancy.
Second Home or Investment Property?
How you'll use a resort condo changes the loan. A second home is one you use yourself for part of the year; an investment property is bought mainly to rent. Lenders price, qualify and set down payments differently for each, and some only allow limited rental of a second home. Tell the lender how you plan to use the unit so the term sheet you enter here matches the program.
Why Some Resort Condos Are Non-Warrantable
A resort condo is a regular condo in a vacation area, not a hotel, but the way the building is used can still put it outside Fannie Mae's guidelines. Fannie Mae's Selling Guide lists projects that are primarily transient, projects professionally managed by a hotel or resort company that also handles short-term rentals for owners, and projects offering hotel-type services as ineligible. Budget, reserve and owner-occupancy questions in the association can also push a project out. When that happens, the condo is financed with a non-warrantable condo loan, and the down payment and rate come from that lender.
Check the Rental Rules Before You Count the Rent
Before relying on rental income, read the association's documents for minimum-stay rules, rental caps or registration requirements, and check the local short-term rental rules. A building that limits rentals to 30 days or longer will produce very different income from one that allows nightly stays.
Frequently Asked Questions
What is a resort condo loan for a purchase?
It's a mortgage to buy a condo in a vacation or resort area, often used as a second home, a short-term rental or both. Depending on the project and how you'll use the unit, it might be a conventional second-home loan, an investment property loan or a non-warrantable condo loan.
Can I buy a resort condo with a second-home loan?
Sometimes. You need to use the unit yourself for part of the year and the project has to meet agency condo standards. Projects that are primarily transient or managed by a resort company that handles owners' short-term rentals are listed as ineligible in Fannie Mae's Selling Guide, and those purchases usually need a non-warrantable condo loan.
How much down payment do I need to purchase a resort condo with a loan?
It depends on the program, whether the unit is a second home or an investment, whether the project is warrantable and the lender. Ask for a term sheet for that specific building and enter its down payment here to see your loan amount and cash to close.
Does short-term rental income count when buying a resort condo with a loan?
Some lenders count it, especially investor or DSCR-style programs that qualify on the property's income; others qualify you on personal income only, particularly for a second home. Ask how your lender treats rental income and what documentation it needs.
What makes a resort condo non-warrantable for a purchase loan?
Common reasons include heavy short-term or transient rental use, management by a resort company that runs owners' rentals, hotel-type services, and budget, reserve or owner-occupancy issues in the association. The lender's project review decides it for each building.
What monthly costs come with a resort condo loan purchase?
Principal and interest, property tax, condo unit (HO-6) insurance and association fees make up the housing payment. If you rent the unit, plan for management, cleaning, furnishings and any local rental taxes or registration fees as well.
How do I compare rates on a resort condo loan purchase?
Get term sheets or Loan Estimates from two or three lenders on the same day for the same building and occupancy, then enter each rate here. We don't publish rates, because pricing depends on the project, the program and your file and changes often.
Want Us to Run Numbers on a Resort Condo?
Tell us the building and how you plan to use it and we'll look at second-home, investment and non-warrantable options for that project.
- Only 2 minutes to complete
- No credit score impact
Related Resort Condo Tools and Guides
Important Disclaimer
This calculator estimates a resort condo purchase payment, cash to close, net cost after rental income and a rent coverage ratio using the numbers you enter. It is not a Loan Estimate, a rate quote, a loan approval or a commitment to lend. Down payment, interest rate, reserves and the way rental income is counted are set by each lender and vary; use the figures on your own term sheet. Rental income is a projection, not a guarantee, and does not account for vacancy, repairs or other operating costs. Project-eligibility description reflects the Fannie Mae Selling Guide, B4-2.1-03 Ineligible Projects (version dated 08/05/2026), reviewed October 30, 2026. All borrowers must qualify based on lender and property guidelines. Jim Blackburn, NMLS #1072866. Equal Housing Opportunity.