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What lender procures financing on a townhouse with no HOA of a total of 2 units.

by pumpkintrust1697 from Dana Point, California. Nov 20th 2016 Reply


Larry Gray (lgray_312_247)
#1 ranked lender in California - 900 contributions

It is not zoned as a 2 unit family home? I have funded a loan wherein two separate townhouses were built and we do loans in that situation wherein there is no HOA.It is like a "non-warrantable" condo and is an easy exception for us to make.

Nov 21st 2016
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,402 contributions

Your question is confusing.. a townhouse by rule, is a no different than a single family home.. if it's two units, then it's not a townhouse, it's a duplex, which makes it an investment property.. There are townhouses that share a "Common Wall", but the financing would still be the same as if it was a single family home. If you are buying one unit, then not a problem.. if you are buying two units, but both are separate townhouses, then not a problem, you just apply for 2 loans. if it's a duplex, then you are applying for one loan.. Also understand that there are a lot of developments which call themselves "Townhouses" but in all actuality, they are condo's.. and condo financing is very different than townhouses or single family homes.. much more restrictions.. if you are serious and wish to know more about your financing options, then you will need to pick up the phone and contact a well informed mortgage professional and let them review the property and your scenario.. only then will you know what's possible.. I'm the preferred Broker here in Scottsdale AZ and Arizona and California is my primary market. 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 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Nov 22nd 2016
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