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Beaumont - Wilshire : Real Estate Advice

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Activity 1
D,  in Oregon
Thu Dec 18, 2008
D answered:
Hello Madison,

Do you own the land? If so then that is dealt with differently than if you don't. A condo is where you don't own the land and there are steps to make it warrantable. One of them is the owner occupancy rate must be 50% or greater. So if you live in one of the units, you are already there. The next step is to apply for a warrantable condo with Fannie Mae. This will include setting up an association and such. If you contact me, I can email you the Fannie Mae pdf packet which will give you step by step instructions on how to apply with them. I've helped other condo associations become warrantable as well as FHA approved.

Crystal Beard
Ambient Home Lending
Toll Free 877-777-9763
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