Vegas Condo Financing

[Ryan McDonald]

Hi BP Peeps,

Hoping I could get some guidance on financing a condo. Here's the situation. I'm in the process of doing a cash out refi on my current house (removing PMI and lowering interest rate!). Looking like I'll be getting roughly $35k back at closing.

I'm looking to pick up a condo to either A. downsize myself and rent out my house or B. rent out the condo.  The issue i'm running into is that many mortgage companies will not finance condo purchases, even with a sizable down payment.

Does anyone have experience in non-conforming lending that would allow me to put 20-30% down on a condo with a traditional 30 year mortgage?  Or know of a lender that will finance?

Thanks in advance!

Ryan