All Forum Posts by: Courtney Cleveland

Thanks Nik

Hi All,

I've been looking for my first investment property since the summer. I've been very carefully searching in hopes of making the best decision, and avoiding some of the common 1st timer mistakes. I'm preparing to make an offer on a 3br/2ba condo this week, and want to know what questions I should pose to the seller/agent before doing so. Any good questions that I might not be thinking of? Thanks in advance for your feedback.

-CC

I'll try to keep this brief and to the point. In the process of purchasing my first investment property (2 br condo in Atlanta suburb). I get a call from the lender today (NFCU) telling me that underwriting cannot approve the deal because the HOA has an inadequate budget, high investor occupancy concentration, and high delinquency. I was scheduled to close on the 16th, and just got this call today. I'm apprehensive about starting the process with another lender, because I don't want to run into the same issue again. The mortgage processor said that this is a NavyFed thing, and others might not be as strict. Anyone know how I should proceed with this scenario? It's the only thing standing in my way. Thanks in advance for any guidance.