News Release Part 1 of 3
By Jim Pendleton - Mr MortgageTM
Since most lenders routinely sell their mortgage loans they will in all likelihood not want to
make you a loan on a non-warrantable condominum. If they happen to agree to making the condominium loan
anyway the loan interest rate and loan terms will likely not be too favorable to the borrower and apartment
buyer. This can result in you having difficulty getting required mortgage loan financing for that nice new
gated community condominium or loft home inside the city.
Condominiums that Do not FIT into one particular of these three classes are regarded as
1. Developers control in the house owners association has not yet terminated 2. Task may
perhaps be subject to phasing or add-ons which have not yet been completed three. All prevalent elements and
amenities need to be entirely installed, concluded and in operation 4. 70% of all models in the complete
improvement need to have been sold and or legally obligated to close 5. 70% of all units in the whole
advancement should are already sold to owner occupants
For more info call 631-451-7400 or APPLY HERE.