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non-warrantable condominum

 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 NON-WARRANTABLE CONDOS:

 CLASS I

 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

continued ....

 For more info call 631-451-7400 or APPLY HERE. 

 

non warrantable condo

 

 

 
Special Note               

Financing Non Warrantable condo's requires an expert.

Ask our client:    

"I looked all over for someone that would help me with my non-warrantable condo purchase- I contacted Mr Mortgage and they went to work and got my purchase done in three weeks. Amazing! Highly recomend Jim Pendleton, good guy to work with."

D. Hawthorne, CT