how can i find out if the building i live in is a FHA approved? I want to refi however we're at 50% rental.
Contact Mike Del Preto of Hartland Mortgage through his website at http://www.mikedelpreto.com. He is extremely knowledgeable and experienced with doing refi's in Chicago where the owner wants to switch to FHA. Many lenders will say they have the experience but I can personally guarantee that Mike does.
Best,
Scott Newman
Newman Realty
You are on the border of not qualifying as it is due to the percentage of rentals, but you may still be able to get spot approved if your bulding is not already on the approval list.
Requirements for Spot Approval are in the link I have provided below.
Good luck!
Patti
The gentleman below is correct. Sit down with a mortgage broker to discuss your options.
I am a mortgage broker. If I can be of service, please let me know!
Martin Smith
Precision Funding
877-238-6324 Ext 704
513-536-7184
877-238-6324 FAX
MSmith@PrecisionFundingUSA.com
http://www.PrecisionFundingUSA.com
You can check on this website:
https://entp.hud.gov/idapp/html/condlook.cfm
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Fair Housing and Equal Opportunity