Non-Warrantable condo lenders??

[Brent Kubitschek]

Hi all,

I'm looking at a condo that has 6-of-12 units owned by the original company so it's over the 10% theshold, thus non-warrantable, and FRE/FNM won't handle it. I've spoken to a few credit unions and local banks and received terms closer to 20% down and 5+% interest.

Has anyone faced this issue around CLT and been able to locate a funding source for non-warrantable that approaches normal homebuyer lending terms? (30yr fixed, competitive int% and %down, etc)