Home Buying in 60622>Question Details

Albert Cossy…, Real Estate Pro in Chicago, IL

Looking to refinance a condo not currently Fannie Mae or Freddie Mac owned. Issue is that owner owns 10 financed units. Any lenders out there?

Asked by Albert Cossyleon, Chicago, IL Fri Aug 17, 2012

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7
Albert,
We work with a few portfolio lenders who will do non-warrantable condos. Please let me know how I can help you.

Thanks...

JP Marzano
Senior Loan Officer - NMLS # 574681
Chicago Financial Services
312-204-6556 - direct
312-608-1555 - mobile
jpmarzano@cfsmortgage.com
http://www.themortgagecall.com
1 vote Thank Flag Link Sat Aug 18, 2012
Hi Albert...
Many factors are used in determining eligibilty for Fannie acceptance on condos these days. Sometimes Fannie Mae will make exceptions...it just depends on the entire scenario of the borrower and condo project respectively. We also work with a few portfolio lenders who will do non-warrantable condos. Please let me know how I can help you.

Thanks...

JP Marzano
Senior Loan Officer - NMLS # 574681
Chicago Financial Services
312-204-6556 - direct
312-608-1555 - mobile
jpmarzano@cfsmortgage.com http://www.themortgagecall.com
0 votes Thank Flag Link Fri Aug 24, 2012
i will need to know more aobut the condo. is it owner occupied or investment? If owner occupied and less than 80% loan to value, it shouldnt be a problem. If investment or second home, that will certianly be a problem. Let me know if I might be able to help. 312-307-2787 NMLS#230092
0 votes Thank Flag Link Fri Aug 24, 2012
Call Matt Bukovy 773-654-2498. If he can't help you he will at the very least point you in the right direction.

Good luck!
0 votes Thank Flag Link Sun Aug 19, 2012
always people who will lend..you have to pay the going rates.. and non owner occupied low LTV
0 votes Thank Flag Link Sat Aug 18, 2012
Yes there will be. I would call a lender and see if they can refer you to someone that can help. I have a guy that you can call if you need a referral.
0 votes Thank Flag Link Sat Aug 18, 2012
That will be an issue,but my web site has some lender references so give them a call and see.
0 votes Thank Flag Link Sat Aug 18, 2012
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