Forgotten Your Password?

Need to Register?

Question Icon

No one will fund my condo, nonwarrantable?

Having a hard time financing this property I really really want. Is it possible to get a loan for a nonwarrantable in california? How do the things get sold! It's because of the amount of commercial space in the building, if that matters by kane.allsner7863776 from San Jose, California. Oct 30th 2014 Reply


Chris Tom (ChrisTom)
#933 ranked lender in California - 3 contributions

Hi Kane,I can help you with your non warrantable condo. I can also do ones that are in litigation. Please feel free to call me. Thanks.Chris Tom510-750-6808

Oct 30th 2014
1
0
Dr. Shab Kavandi (skavandi)
#472 ranked lender in California - 53 contributions

Hi Kane:Please call me directly we get the works DONE and just DONT TALK! call me to see how we can accommodate you! My number is 714 639 6694cheers,Shab

Oct 30th 2014
1
0
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

All mortgages are sold on the open market.. but in order for them to be sold, they must conform to Fannie Mae or Freddie Mac's guidelines. When it comes to condo's, the lender is required to have the project management fill out a questioner, and it's the responses to those questions which make it eligible or not. Understand that condo's are one of the first property types that decline in value when the market is going bad.. conversely, they are one of the last property types to improve in value when the market is improving.. Lenders know this and for that reason, they represent a greater risk to the lender.. When the lenders wont lend on a property, it's usually because they understand valuation and risk vs. reward. If a condo is unwarrantable, the lender is basically saying that there are risk factors associated with this project that are greater than what we're willing to accept. For the very reason a lender wont lend on this condo project, should be the very reason you should avoid buying one.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Oct 30th 2014
1
0
Steve Patton (steve.patton)
#718 ranked lender in California - 11 contributions

We are set up with several lenders who specialize in non warrantable condo financing, regardless of the percentage of commercial space and if there's litigation with the HOA. AND the pricing is as good as if it were a warrantable condo! Feel free to call me to discuss in more detail. Thanks and I'm looking forward to helping you!.. Lenny 949-491-8672 direct

Oct 30th 2014
0
0
Subscribe to our news feed.