Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Updated over 5 years ago,
What does it mean if a property is non-finance able?
Hi BP,
I apologize for such a basic question.. I've found a property that I've qualified through my own analysis: the price is right, 100% occupancy, and it cash flows nicely with 20% down. But the realtor says it's "non-financeable" and explains that it won't meet Freddie Mac/Fannie Mae requirements and they will only accept cash offers. I can see that there's work to be done, but given that it is fully rented (3 units), how is it that I would not be able to secure a loan?
Thanks for your help BPers,
Theresa