Does anyone know where to get financing for a condo with low owner occupancy rate of 35% and no appliances?
It is a condo conversion REO in San Diego. I have a buyer, he has 700 credit and 20% down. He is full doc for a purchase that is conforming. Please call me at 619-894-9339 or email mortgageforlife@gmail.com
I have tried Wells Fargo retail and wholesale, country, indymac, and home savings.
Jenny Talasazan
I guess there's no more money for areas that are declining markets. Banks are getting smart.
Jenny,
Try contacting Michele Kole of Koleco Financial at 858.627.9559 or via e-mail at michele@koleco.net
Hi Jenny,
This is another link on the chain of problems that we, as agents, are facing. I got a listing that went to auction. The financing fell through because of HOA difficulties. FHA is stricter than conventional loans on % occupancy- I'll keep you posted if I find a lender, but for now, I can't think of any.
Best of Luck,
Laarni
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