Unfortuantely, this problem may be bigger than bad customer service. It even appears to be the case since you mention it's under 51% sold.
If your lender is using a conventional/conforming lender or FHA, the project likely is not warranted and cannot obtain financing for either types of loans. This has nothing to do with your credit or income. You could have an 850 credit score, 50% down and make $400k an hour, neither Fannie Mae, Freddie Mac, FHA finance that condo.
There's two solutions for units under 51% sold (assuming it's new). One, as of December 7th, FHA now only requires 30% of new construction condos to be sold and owner-occupied to obtain a FHA warranty. This is one of many new guidelines put in place to help condos obtain a FHA warranty since FHA Spot Checks are going away in February 2010 (extended deadline from October 1st, November 2nd and December 7th. See a trend?).
The other, if the project has a preferred lender who specializes in condo financing, they collect pre-phase contracts and close multiple transactions simultaneously EVEN IF THE PROJECT IS NOT WARRANTED. They do this because they know they can apply for the warranty after the people move in. Only lenders and loan officers highly familiar with the process have the ability to do this and are willing to take the risk of funding non-warranted condos.
Lastly, and hopefully this is your scenario, the broker is planning on using a non-conforming lender who does not need FHA, Fannie Mae or Freddie Mac financing to fund. There are only a handful of lenders who do this, so if this is the case, they are likely very slow and backed up. The speed of the lender has nothing to do with the broker. It is the broker's job to keep you in the loop and communicate with you, but it may not be their fault it's taking this long. Only their fault that you have to ask questions on Trulia to get an answer.
Here's a link to a blog post I wrote on Zillow.com about FHA Condo Spot check changes. Anybody buying a condo should take into consideration the importance of getting warranties for the project.
If the propery does not work with lender guidelines of ownership / vs. rentals properties known fact loan most likely be declined. Ratio are usually around 60% / 40%
National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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The good news, as Keane stated, is that you can now apply for an FHA assuming more than 30% of the developement is sold. I doubt that they would mind extending you mortgage contingency if they are less than 50% sold.
You would need a new appraisal if you go FHA, but if they are not going FHA it won't happen. I can't even think of a portfolio lender that would do a jumbo loan on a condo with less than 51% sold and only 20% down.
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