Non-Warrantable Condo Loans Needed
We have started to exit our Phoenix, AZ condo project and are looking for a Lender / Broker that has a higher LTV non-warrantable condo product that we can offer our buyers.
There are only 7 units in the complex, so us owning 6 kills all hopes of repositioning for Fannie / Freddie conforming. Our plan is sell all 6 units in the next 3 to 4 months.
We currently have a lender that can do 80% LTV but we are hoping for a long-shot in finding a lender that can do 90% LTV at competetive rates for our OO buyers. Lender that has the product will likely get all 6 loans...so please check your networks! We have called over a dozen local banks but they are either not doing the loans or wouldn't have the appetiate for all 6.
PM me if you need more details or have a lead.