It is possible. Based on the data you provided you are good to go. The condo also needs to qualify, just to a lesser standard than a warrantable condo project.
If you want to explore that please contact me. I have done this type of loan in some time until this summer. I have now closed three of these loan types.
Loan Officer/Real Estate Asset Planner
Financing Solutions for Arizona Real Estate since 1993
American Financial Lending, Inc.
20860 N. Tatum Blvd, Suite 160
Phoenix, AZ 85050-4277
602 277-3800 w
602 631-9788 f
602 524-2401 c
602 912-9438 h
Do you live in the condo or is it a rental or vacation home?
How much is the balance on your current mortgage?
Are you looking to just lower the rate or did you want to take cash out?
Why is it non-warrantable? Is it the investor concentration or something worse like the association being bankrupt or sued.
Those answers will help narrow things down a little bit. My company offers options, but I just need to know specifics so we can have an idea of rate/programs.
Tony Grech | Mortgage Loan Originator | NMLS #977416
PMAC Lending Services, Inc.
Toll-free (855) 642-4762 ext. 278
Mobile (313) 622-7383
Fax (248) 945-4842