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Updated over 8 years ago on . Most recent reply

User Stats

23
Posts
5
Votes
Jeff M.
  • Rental Property Investor
  • Alexandria, VA
5
Votes |
23
Posts

Looking for Financing for a Non Warrantable Condo

Jeff M.
  • Rental Property Investor
  • Alexandria, VA
Posted

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. 

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