Financing in Scottsdale>Question Details

Debi.ziehm, Renter in Scottsdale, AZ

Does any one know of a lender offering non agency mortgages on leased land? Scottsdale McCormick ranch. O/O..

Asked by Debi.ziehm, Scottsdale, AZ Fri Apr 18, 2014

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I'm a local mortgage lender and do have some Jumbo investors that finance leasehold property. In fact, we just did one in Briarwood recently.

Greg Kertman
0 votes Thank Flag Link Thu May 1, 2014
Hi Debi,

I'm right down the street here in Scottsdale and used to live in McCormick Ranch.

Is there a reason you are looking for a non-agency mortgage? We handle leaseholds on a case by case basis as long as the lease is longer than the mortgage term (assuming you are otherwise qualified). In other words, if you choose a 30 year fixed loan, the lease must be in effect for at least 31 years from the date of loan funding.

I can offer that on standard conventional loans, was there another reason you didn't want an agency product?

Feel free to call me at 480-368-7715 to discuss in further detail.
0 votes Thank Flag Link Mon Apr 21, 2014
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