Updated over 9 years ago on . Most recent reply
Looking for Financing for a Non Warrantable Condo
I have a student housing unit by a university in North Carolina. I am looking to Refi the property and also acquire an additional unit. So I am looking for two loans.
-the property is in a non warrantable condo complex
-loan size of $70K-$75K
-property is rented and has good cash flow
-I would prefer a fully amortizing loan (no balloon payment); so preferably a 30 yr with 30 yr amortization but would consider a shorter, fully amortizing loan as well
-Looking for a LTV of 75-80%
The deal size is too small for a lot of lenders (including B2R). Does anyone know of a lender who will do these deals? Lenders, feel free to reach out to me directly. Thank you.