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home loan near a gas station

by jp.hendrickson157 from , California. Jul 24th 2018 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

They are allowed.. but we need more info.. For example, HUD will not allow a property that is within 300 feet of a tank that can store 1,000 or more gallons of flammable liquid if the tank is above ground.. But gas stations have tanks below ground.. so it's not an issue.. conventional might require a water test if you have a well and within 1/4 mile of a gas station. But these are boiler plate guidelines.. each lender who offers financing can have additional guidelines called overlays.. it's possible certain lenders have overlays which make these property types ineligible.. but for most, so long as they comply with FNMA or FHA guidelines, you should be fine.. I hope this helps.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

Jul 24th 2018
Larry Gray (lgray_312_247)
#597 ranked lender in California - 1,139 contributions

If you like the home and it meets most lender's fannie mae or freddie mac guidelines, you have a very good chance it will go through. FHA even provides a loan for primary residence with a business attached!

Jul 25th 2018
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