We have 20 other investors at Guaranteed Rate and a number of them do unwarrantable condos that I can place you loan with.
My direct line is 773.516.6859 or call me on my cell phone 312.403.4150.
With warm regards,
Mary Kay Laurent
Associate Vice President of Mortgage Lending
o: 773.516.6859 - m: 312.403.4150 - f: 773.516.6014
3940 North Ravenswood , Chicago, IL 60613
NMLS ID: 870598
The highest compliment I can receive are your referrals!
Yes I have. We would potentially be able to accommodate a primary residence or second home purchase with as little as 5% down on a conventional mortgage. Wintrust Mortgage has the unique ability to sell loans directly to Fannie Mae allowing us avoid lender overlays and obtain waivers to overcome higher rental percentages in condo buildings. It is, however, important to understand the risks of purchasing in this situation before making a decision.
Please contact me directly if I can help further.
Direct: (773) 456-9662 | email@example.com
Rental concentration is not an issue as long as the client is purchasing the property as their primary residence.
Andrew gave a good explanation below - there are several lenders that can sell directly to Fannie Mae which eliminates the concern for the amount of rental units.
If you are having a difficult time financing it so would any other potential buyer in the future, which could adversely affect you sale. If you want to keep it as a rental for a very long time it might be ok.
I would need more specifics to give you my best opinion.
Fell free to contact me, if you are not with and agent currently.
Patrick Jeffrey Realty
I would recommend Matt Tierney with Guaranteed Rate, or Jason Accola with Wintrust.
Sohail A. Salahuddin | Founder
Innovative Property Consultants Group | Sales and Leasing
Jameson SothebyÂ¹s International Realty
425 W. North Ave. | Chicago, IL 60610
O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030
"Extraordinary Service For Extraordinary Lives"
If this is for your owner occupied residence then you should have no problem obtaining financing regardkess of the rental rate.
I would be happy to help - please feel free to check my references online
Senior VP of Mortgage Lending
773 290 0455
Andrew Luett - Wintrust Mortgage
Both are amazing at their jobs and both are brokers so they can shop around until they find a bank who will buy your loan from them OR they will sometimes hold on to it.
3101 N. Greenview Avenue, Chicago, IL 60657
309-269-3499 CELL | 773-305-0480 FAX