Updated over 7 years ago on . Most recent reply
What’s wrong with flat roofs?
Why do many investors steer away from flat roof properties? I had a lender suggest that flat roof = older property....meaning no better than a 20-year amortization. Is this a legitimate expectation?
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I would not think that the style of roof would dictate loan terms. The only issue with a flat roof would be pooling water if not done correctly or the potential of cave in if you're in a snowy climate. I'm not sure how it indicates an "older" property 200 year old homes have peaked roofs and I would consider that an "older" property. I would look into working with another lender.