Anyone know a lender who can do two duplexes on one parcel as a 4-unit property? First Federal of Lakewood is saying the parcel needs to be divided to purchase.
@Laura Janosko , I'm in Gordon Square area and Pioneer Savings Bank would be worth reaching out to. I'd be curious what they say. Good luck.
Try Wells Fargo. I'll PM you my guy's name. I got a lot with one house and two small outbuildings for a total of four units, completely conventional FHA loan.
That doesn't sound right to me, though it may make it trickier to find comparable properties. I'd talk to a few other banks.
@Laura Janosko First Federal Lakewood is one of the most difficult banks to work with. I have about $500k in loans through them & they drive me absolutely insane. From their archaic online banking software to their relentless annual follow up to obtain new net worth statements.
I would look into Wells Fargo, NLC Loans, Van Dyke Mortgage or MB Financial. Those lenders get things to the closing table in a pretty efficient manner.
Thanks everyone! I believe I've found someone at Wells Fargo who can help. He said it's no problem for the loan the only tricky part is finding comps for the appraisal. Luckily I've found some comps that should work :)
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