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Updated over 7 years ago on . Most recent reply

Turned down for Refi -- Where should I look for lender?
I was turned down by my current lender for a refi-loan on my condo due to the following reasons.
- 35% of the units are owned by a single investor (this needs to be under 10%).
-only 31% of the units are owner occupied or second homes.
- 25% are past due on the condo dues. (Not a big deal not as most are only like 20 days out.)
- Rental - commercial property.
Where should I look to find a lender to handle a deal like this in WI?
Thanks!
Casey
Most Popular Reply

Hi @Casey Havenor,
The dialing for dollars on this one should be pretty quick.
Simple y/n answer that'll let you dial quickly and efficiently until you get the "yes."
Expect an ARM and/or points upfront and/or a higher rate.... 1 or 2 out of the 3.