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Private Lending & Conventional Mortgage Advice

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Kimberly Gillock
Pro Member
  • Rental Property Investor
  • Denver, CO
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55
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fixed mortgage on non-warrantable condo?

Kimberly Gillock
Pro Member
  • Rental Property Investor
  • Denver, CO
Posted Oct 31 2014, 01:17

Hi-- question for the lending community. Do fixed (15 or 30 year) mortgages exist for non-warrantable condos (>50% non-owner occupied). I currently have a 7-year ARM on a nice 1-bedroom condo in a great, appreciating neighborhood in a well-maintained small (<4 story) condo building in Denver, CO. Have been cash-flowing on this property with zero vacant days since I bought it. I have excellent credit. Would really like to refi to a fixed 15 or 30 year loan, esp while rates are so low. Does this even an option or am I doomed if I decide to hold onto it after 7 years (assuming interest rates are going to start increasing significantly now that the quantitative easing is over)? Would love some advice and/or hopefully some offers from local lenders.

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