Is a cistern common enough in this area to get approved for a loan on a house with one?

Asked by Karla, Harrisonburg, VA Wed Jul 31, 2013

House is in Linville, VA

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brent mendel…, Mortgage Broker Or Lender, Bethesda, MD
Thu Aug 1, 2013
Not with an FHA loan or a regular Fannie/Freddie loan. It's one size fits all for most loans these days. If you work with a small bank and or a credit union that doesn't sell their loans on the secondary market you MIGHT find someone if a cistern is reasonable and common in that area. I believe that to be the only chance you have to get a regular loan on that house.
Good luck.

Thank You,
Brent Mendelson
Senior Loan Officer
1ST Mariner Mortgage
Lending in all 50 states
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