The FLEX Program™
USVI Condo-Tel MortgagesFinancing Resort-Style Condos in the Virgin Islands
The Virgin Bay Advantage
Built for Resort-Style Island Condos
Condo-tels are among the most popular property types in the Virgin Islands, especially in St. John and St. Thomas. These resort-style communities feature check-in desks, onsite restaurants, communal pools, and daily cleaning services. While these amenities generate fantastic rental revenue, traditional mainland banks classify them as commercial properties. Virgin Bay Mortgage offers specialized FLEX portfolio lending designed specifically to finance USVI condo-tels and non-warrantable condominiums smoothly.
Local Expertise
Deep roots in the USVI market and an understanding of island properties.
In-House Underwriting
Every step under one roof for faster approvals and fewer delays.
Local Loan Servicing
We keep servicing your loan after closing, so you always deal with us.
Understanding USVI Non-Warrantable & Condo-Tel Properties
Inadequate Insurance
Anything less than full coverage is non-warrantable.Resort Amenities & Registration Desks
Operations that function like a hotel or resort.Single-Entity Ownership
Single investors owning a high percentage of units in the complex.Ongoing Litigation or HOA Reserve Levels
Litigation that could affect a condo association's financial health or inadequate reserves set aside on an annual basis can cause non-warrantability.
How We Finance USVI Condo-Tels
Up to 70% LTV Options
Competitive leverage for qualified buyers.LLC & Trust Closings Allowed
Structure your purchase for maximum liability protection and tax efficiency.In-House Territorial Expertise
We have mapped every major condo association across St. Thomas, St. Croix, and St. John.
Eligible Property Types
- Non-Warrantable Condominiums
- Condo-tels with front desk / resort operations
- High-Density Vacation Rental Complexes
Found a Condo You Love?
Talk with a local loan officer who knows the USVI market. We respond within 24 hours.
Explore More
More FLEX Program™ Loans
DSCR Loans
Buying a short-term rental or Airbnb in the USVI? We qualify the mortgage based on the property's projected rental income, not your personal debt-to-income ratio.
Learn moreBank Statement Loans
Heavy tax deductions shouldn't stop you from buying a home in the Virgin Islands. We verify your income using 12 to 24 months of bank statements instead of tax returns.
Learn moreAsset Depletion Loans
For retirees, trust beneficiaries, or luxury buyers. We calculate a qualifying income stream directly from your liquid assets so you don't have to liquidate your portfolio to buy your island home.
Learn moreJumbo Loans
Some island properties easily exceed the conforming loan limits from Fannie Mae or Freddie Mac. As part of the FLEX Program™ we offer loans up to $2M requiring only 30% down.
Learn moreCommercial Loans
Expanding your portfolio? We offer commercial financing up to $2M for retail, office spaces, and 5+ unit multi-family apartment buildings across the territory.
Learn moreLLC Closings
One of the major advantages of the FLEX Program™ is the ability to close in an LLC, which may be more cost effective than closing in your name and transferring the property later.
Learn more
1-340-714-0033
contact@virginbay.com
A2-7, Red Hook Quarters, 6100, No. 2 Suite, St. Thomas, 00802
Mon-Fri: 9:00AM - 5:00PM
Sat: By Appointment
Sun: Closed
1-340-714-0033
Mon-Fri: 9:00AM - 5:00PM
Sat: By Appointment
Sun: Closed
Get Started Today
Contact our team of experts for personalized advice. Guaranteed to respond within 24 hours.
Local, Experienced, Trustworthy Advice For The USVI Mortgage Market
Loan Programs
Location & Hours
6100 Red Hook Quarters
Suite A2-7
St. Thomas, VI. 00802
Mon-Fri: 9:00AM - 5:00PM
Sat: By Appointment
Sun: Closed
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