Refinance fell through due to commercial zoning

[Jennifer Day]

I was 4 months along trying to refinance my primary residence, the appraisal came back that the single family house is zoned general commercial and now the bank won't finance because if it was ever destroy over 80% that a residential property could not be reconstructed. I think I've lost my 3.125% rate lock on a 15 yr conventional loan. Do I have any options available?

[Scott VanHee]

@Jennifer Day

I think your only option is to try and get it rezoned residential.

Was it zoned residential when you bought it and then subsequently changed?  I presume so, since you mention wanting to refinance, or was the current lender asleep when it extended the existing 1st mortgage?