As for FHA, with seven units on a standard 203(b) (not a renovation loan), you could close in here as long as the project was spot approvable and no units were currently FHA fianced currently.
Best of luck with your search!
Will Addo is a Renovation Specialist with Wells Fargo Home Mortgage. We finance 1 in every 4 home in your Market. While having no Best Sellers to his name, he's really a decent chap for all intensive purposes. By email, Will can be reached at firstname.lastname@example.org. By phone, he can be reached directly at 770-497-6006
I am Chris Bauer the Broker?owner of Quality Funding Inc. here in Chicago, IL I have 3 solid lenders that do 100% Investor rehab funding. They close loans in 2 weeks usually. Not the typical 90 days to get a FHA 203K loan closed.
If you want details visit my site at http://www.qualityfundingsource.com We have proof we close loans and by the way its less expensive than you might think. NO UP FRONT FEES!
I think your only option right now is the 203k with FHA. Any reason why you are looking for a non-FHA loan? Let me know, as our most popular loan right now is the 203k with FHA. It's a great program!
3933 75th Street
Aurora, IL 60504
Ardain Mortgage Corp