Non-Warrantable Condos and New Construction
No it is not! Condotels operate as a hotel whereas non-warrantable condos mainly have more second home and investment units than they do primary residence units.
A new construction loan just means the builder is building the property, and when the certificate of occupancy is issued, you as the buyer can close on it. A construction loan is when you personally hold the construction loan and once you close, that’s when the builder can start breaking ground.