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Robert McGui…, Real Estate Pro in Denver, CO

Does anyone have a local lender who will consider a conventional loan on a condo that is not FHA Certified for the usual reasons. Rental ratio,

Asked by Robert McGuire, Denver, CO Wed Aug 3, 2011

HOA dues percentage, a litigation issue in the process of resolution.

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9
Thank you all for the answers. Good to know that there are good resources out there in the Real Estate community with knowledge and expertise when needed. I am waiting now on an answer on a portfolio program from 1st Bank. Any other thoughts or options accepted. I will let you know what happens since this question comes up so often.

All the best. Robert...
0 votes Thank Flag Link Wed Aug 3, 2011
I sure do, give me a call and I will give you his info.
0 votes Thank Flag Link Wed Aug 3, 2011
1st Bank just saved a deal for me. they have great portfolio products. below is my guys contact info. Also KeyBank has a great no MI product as well.


Grant Hafner

Banking Officer- Lakewood
550 South Wadsworth Boulevard
Lakewood, Colorado 80226

T 303.742.3017
F 303.742.3009
NMLS ID #: 566068
0 votes Thank Flag Link Wed Aug 3, 2011
Ben Dold at Compass Bank has a Reinvestment act program for condos with issues on renter/owner occupancy ratios, reserves issues, etc. They also have no mortgage insurance which can be a lot of savings. He has done a lot of my listings that can not go FHA. His email is Ben.Dold@bbvacompass.com or his cell is 720 480-6155. Call me if you have questions.

Best,
Jen
303-229-6096
0 votes Thank Flag Link Wed Aug 3, 2011
I second Mr. Keene. I'd try Key Bank's Key Community program. FYI- Deborah Bailey is no longer the mortgage contact. Try Jamie Johnson at 720-217-8002.
Web Reference: http://www.metrowestres.com
0 votes Thank Flag Link Wed Aug 3, 2011
BBVA Compass Bank was offering an in-house loan program on non-warrantable condos.
0 votes Thank Flag Link Wed Aug 3, 2011
Call Citywide Banks or 1st Bank. http://www.holbenhomes.com
0 votes Thank Flag Link Wed Aug 3, 2011
Robert,

Contact Deborrah Bailey at Key Bank. They have a portfolio loan that may work.

What's really helpful is that Key has a scenario desk, which is staffed by underwriters, so you can usually get an answer to a question like this early in the transaction and not right before closing.

Her number is 303-627-5649.

Good luck,

John Keene
Live Green Stapleton
0 votes Thank Flag Link Wed Aug 3, 2011
Robert,

What is the owner occupancy ratio? HOA delinquency ratio? the normal questions...

Ray
303.779.0591 x101
rwilliams@summit-mortgage.com
0 votes Thank Flag Link Wed Aug 3, 2011
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