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Updated over 8 years ago on . Most recent reply

Greg Barbre's profile image
Greg Barbre's profile image
Greg Barbre
  • Investor
  • from Downers Grove, Illinois
  • Member since Sep 29, 2015
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28
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8
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Greg Barbre's profile image
Greg Barbre's profile image
Greg Barbre
  • Investor
  • from Downers Grove, Illinois
  • Member since Sep 29, 2015
Connect
Greg Barbre
  • Investor
  • Downers Grove, IL
8
Votes |
28
Posts
Private Lending & Conventional Mortgage Advice

Non-FHA Loan after cash purchase

Greg Barbre
  • Investor
  • Downers Grove, IL
Posted

I put in an offer on a single condo unit in a 12 unit building. Because 7 of the 12 are investor owned the bank would not give me a loan. Something about the building/association has to be more than 50% resident owned for bank to resell mortgage, FHA eligible. Anyway we bought the unit with cash about 6 months ago and I would now like to finance the unit.

What is best way to finance the property?  

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