Is 1500 Hudson and 1500 Washington in Hoboken "warrantable" properties for purposes of obtaining a mortgage?

Asked by Buyer07030201, 07030 Wed Dec 7, 2011

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Jose Martinez, Agent, Jersey City, NJ
Thu Aug 15, 2013
Call me I can get you the financing.





Jose Martinez
Sr. Mortgage Consultant
201-406-6983
NMLS 307342
0 votes
Jose Martinez, Agent, Jersey City, NJ
Sun Apr 14, 2013
Call me I can get you the financing.





Jose Martinez
Sr. Mortgage Consultant
201-406-6983
NMLS 307342
0 votes
Kristin Marie…, Agent, Hoboken, NJ
Fri Feb 1, 2013
There is currently an active lawsuit, condo association vs. the developer (Toll) that may prevent Fannie Mae loan approval. But that doesn't mean you shouldn't buy here.

The lawsuit will be settled soon and that restriction will be lifted. This will always be a desirable building in Hoboken. I suggest that if you are thinking about buying in this building you consult a mortgage broker with access to portfolio loans (smaller banks) that will still lend on the property despite the litigation. I can offer assistance with recommended mortgage brokers that have successfully closed mortgages in this building in the last 6 months. You can reach me at agentkm@gmail.com

Kristin Ehrgott
Prudential Castle Point Realty
0 votes
Annette Levi…, , New York, NY
Thu Dec 8, 2011
Do you want to know if it is FHA approved?
0 votes
David Paris, Agent, Hoboken, NJ
Wed Dec 7, 2011
Yes, they both are viewed as warrantable from most lenders. The warrantable condo term is used mostly to describe a condo building that has adequate insurance for the building (both flood and general) and meets the other usual loan requirements (such as % of ownership, # of renters, etc.)

These two buildings make up the original Hudson Tea condo association, and I have done many transactions in these buildings for clients. If you have any other questions, please let me know.

David Paris, Realtor
Century 21 Innovative Realty
Web Reference:  http://www.hobocondos.com/
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