Updated almost 10 years ago on . Most recent reply
Refinancing - Investment Property
We are working with a local bank to refinance our investment property. Our property is a condo located in a 16 unit complex. The HOA completed the required form for the bank and listed 7 primary residence owners and 9 investment owners. The bank is saying we do not qualify for the FHA loan because the majority of the units are investor owned. We are trying to refinance from a 15 to 30 to increase cash flow and the bank has no other options. Any ideas on other options? Anyone else had this problem?