Also you might want your agent to check and see if the property is conforming for it current use or if it is in violation of zoning in the area.

I think in most cases if you explain your transaction the title company will see it as a conforming transaction if not go to another title company to do your business with.When the property is sold the trust is terminated as the new buyer comes in with their financing, or if you need to refinance the property the title is revested out of the trust the new financing is put in place then the title is revested back to the designated trustee..Just so you are aware when the trustee takes title, I'm referring to a professional corporate bonded trustee there must be a clean chain of title for the trustee to accept in the first place so choose your trustee carefully.The thing that the lender can do is call the loan due it does not happen often though, if you vest title of your property to an LLC or other entity w/o their approval or authorization that is one of the many reason why a trust is used.

The options have already been mentioned, IIRC "conforming" loans now start at $50K.

Once they've got a few years experience paying you ANY BANK will make them a "conforming" loan.Good luckall cash

The first time I bought a place that was so cheap that I couldn't get a "conforming" loan, ( I was offered 3% over market rates, plus 4 points, etc-you get the picture) I contacted my brother and he came in "halfsies" with me.

To HUD a non-conforming loan is one that doesn't meet secondary requirements, has a thirty year amoritization, no balloon payment prior to half the equity being paid down and is fully amortized.

"Non-conforming" probably means "legally non-conforming" or grandfathered.

It sounds like this is a legal, non-conforming property which was probably grandfathered in when the zoning was changed to SFR after 1977.

For conforming loans, I think they each have their own time period.

Are you getting a conforming loan on the property?