If you have a lot of equity and good credit, you should qualify for a 30 year conforming fixed in the high 4's with 0 to 1 point.

However, if you apply for credits/grants, then you almost surely will have to conform to standards on the interior as well.I've done a lot of these projects and have never come in close to what was initially budgeted. 

It's a legal non-conforming property.

I also would not go for a unit that's not being used in conformance with zoning and permitted uses.

These are questions that the should be asked by whomever is doing the loan but unfortunately do not; only later to cause problems during underwriting.Most A paper lenders offer 2 types of programs, conventional (conforming) and ALT-A (portfolio).

What is non-conforming real estate?

They're about as dumb as our conforming lending rules.

**Rolls sleeves up***For conventional conforming loans:A lender will not use income for a job that you are not at anymore.

Hey Bigger Pockets Community, I Live in Eugene, Or. and have a non-conforming property that I need to sell.

*background: I have a 1 bedroom in Hoboken that has appreciated significantly, however a cash out refinancing doesn't make sense because it is non-conforming/non-warrantable (1 group owns 11% of units) and doesn't comply with Fannie/Freddie loan.