Investment Condo non-warrantable LTV Looking for Lender

2 Replies

Good Morning BP,

I want to do a cash out refi on a condo that I own outright in Clearwater Beach Florida.  Because it is an investment condo as well as non-warrantable due to the less than 51% owner occupied the most they will loan is 60% at what I consider to be usurious rates.  

Does anyone know of a local bank in Clearwater Beach that will do a loan like this with better rates and higher LTV? It is NOT a condo-hotel. Thank you, any advice would be appreciated!


A credit union is probably your best bet.

I too have a non-warrantable condo in Metro Atlanta and did a cash out refi 2 years ago at 80% @ 4.25 rate.  They did a "limited review" on the condo certification which doesn't even ask a lot of those questions.

Best wishes!

Investment condos with an LTV under 75% should use a limited review form. The limited review form does not ask about investor concentration. With that being said, many lenders do not use the proper questionnaire so you need to make sure you feel confident that your loan officer understand the difference between a full and limited review.

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