Condotel Loans in Las Vegas, Nevada
Las Vegas is the second-densest US condotel market after Florida. Strip-adjacent and Resort-zoned properties operate as branded residences with active rental programs - Trump Tower, Vdara, Cosmopolitan, Mandarin Oriental, Signature, MGM Signature, and others. These properties operate under hotel-services frameworks that exempt them from typical STR ordinances. Year-round Strip traffic (40+ million annual visitors) supports consistent occupancy. Specialty lender pool experienced with Vegas condotel project review.
Top Las Vegas neighborhoods and submarkets
- Trump International Hotel Las Vegas: Top-tier branded residence; 1,282 units; rental program optional; premium ADR.
- Vdara Hotel & Spa (CityCenter): All-suite branded condotel; on Strip; rental program participation common.
- Cosmopolitan Residences: High-end branded residence; Strip-adjacent; mix of rental and owner-occupied.
- Mandarin Oriental Residences: Five-star branded residence; smaller inventory; premium pricing.
- MGM Signature: Three-tower complex with strong active rental program participation.
- Turnberry Place / Turnberry Towers: Off-Strip residential-resort hybrid; mix of permanent and seasonal owners.
- Palms Place: Off-Strip with established rental program; lower entry than core Strip.
Las Vegas quick facts
- •Densest US condotel market after Florida
- •Strip-adjacent properties exempt from STR ordinances
- •No state income tax
- •Convention + entertainment year-round traffic
- •Clark County lodging tax 13-14% (collected by platform)
- •Property tax around 0.6% (low)
Active programs available in Las Vegas
DSCR Loan for Investment Properties
confirmed 5/20/2026DSCR investor loan for short-term rental properties, allowing up to 80% LTV for purchase and rate-term refinances with no limit on financed properties.
DSCR Loan for Investment Properties
confirmed 5/14/2026A non-QM DSCR program for investors, including first-time investors, that allows for negative cash flow properties and offers flexible qualification options like asset utilization.
Bank Statement Loan
confirmed 5/10/2026Flexible income qualification options including bank statements, 1099s, and tax returns for primary residences, second homes, and investment properties with loan amounts up to $3.5M.
DSCR Loan for Investment Properties
confirmed 5/13/2026Investor-focused DSCR program for residential properties, including non-warrantable condos and multi-unit properties, with no income ratio requirements.
Bridge Loan for Investors
confirmed 5/20/2026A short-term bridge loan with terms ranging from 12 to 24 months, designed for investors with at least 2 years of experience. This program does not require a DSCR calculation and offers up to 80% LTV.
DSCR Loan for Investment Properties
confirmed 5/20/2026A 30 or 40-year fixed-term bridge loan for investment properties that requires a DSCR of at least 0.80. This program allows for up to 80% LTV and is available for single-family homes, 2-4 units, non-warrantable condos, and condotels.
DSCR Loan for Investment Properties
confirmed 6/8/2026DSCR loan program for investment properties with specific broker-focused underwriting.
DSCR Loan for Investment Properties
confirmed 6/8/2026DSCR loan program for residential 1-4 unit, multifamily, and mixed-use investment properties.
DSCR Loan for Investment Properties
confirmed 5/18/2026A business purpose DSCR loan for investment properties that does not require personal income documentation or a mortgage license. The program allows for up to 85% LTV on purchases and rate-term refinances with a minimum FICO of 620.
DSCR Loan for Investment Properties
confirmed 5/15/2026DSCR-based financing for mixed-use (2-8 units) and residential (5-10 units) investment properties with loan amounts up to $3M.
Non-QM Investor Loan
confirmed 5/17/2026A specialized loan program for non-warrantable condominiums, including projects with active litigation, high non-owner occupancy, or commercial use.
Jumbo Investor Loan
confirmed 5/13/2026Jumbo loan program for primary, second, and investment properties with loan amounts up to $3 million, available for purchase and refinance.
Non-QM Investor Loan
confirmed 5/11/2026An investment property loan program offering flexible income documentation options including bank statements, 1099s, and alt-doc for self-employed borrowers and investors.
DSCR Loan for Investment Properties
confirmed 5/10/2026A non-QM loan program for condotel properties, offering flexible financing options for purchase, rate-term, and cash-out transactions for both primary residences and investment properties.
Non-QM Investor Loan
confirmed 5/10/2026An investment property loan program that now permits condotels and offers updated guidelines for non-warrantable condominiums.
DSCR Loan for Investment Properties
confirmed 5/12/2026A 30-year fixed DSCR loan program for 1-4 unit investment properties, including condos and PUDs, requiring no tax returns and offering up to 80% LTV for purchases.
Bridge Loan for Investors
confirmed 5/12/2026Short-term bridge financing for investors to acquire or refinance distressed or non-warrantable condo units.
Non-QM Investor Loan
confirmed 5/9/2026Financing solutions for condo projects that do not meet standard Fannie Mae or Freddie Mac guidelines, including those with litigation, high commercial space, or investor concentration.
Jumbo Investor Loan
confirmed 5/15/2026Jumbo loan program for primary, second, and investment properties with loan amounts up to $3 million, allowing non-warrantable condos.
Bank Statement Loan
confirmed 5/10/2026A non-QM bank statement program for service and tip industry workers that uses 12-24 months of bank deposits to calculate income without requiring tax returns.
Non-QM Investor Loan
confirmed 5/19/2026A closed-end second lien mortgage program available for owner-occupied, second home, and investment properties with fixed-rate terms of 10, 20, and 30 years.
Las Vegas Condotel FAQs
Are Las Vegas condotels rental-pool mandatory?
Mixed. Some branded residences (W Las Vegas historically) required rental program participation with revenue share to operator. Others (Trump, Vdara, Cosmopolitan) allow opt-out or private STR management. Read project documents carefully before purchase.
How do Vegas condotels handle the STR permit cap?
Resort-zoned condotels operate under commercial hospitality frameworks, not residential STR rules. The Clark County and City of Las Vegas residential STR permit caps do NOT apply. This is the key advantage over single-family Vegas Airbnb investing.
Lender comfort with Vegas condotel projects?
High. Most specialty condotel lenders have closed dozens of deals in Trump, Vdara, Cosmopolitan, MGM Signature, and similar projects. First-time financing in a project takes 30-45 days; subsequent loans close in 21-30 days because project review is reusable.
Typical Vegas condotel cash flow?
Wide range. Owner-managed Strip-adjacent units can produce 8-12% gross yield; revenue-share rental programs typically split 40-50% to the building, leaving 50-60% net to owner. HOA dues are large ($600-1,500/month typical) and significantly reduce cash flow.
Got a Las Vegas condotel scenario?
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