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Nana Komeh Abboah-Offei's profile image
Nana Komeh Abboah-Offei's profile image
Nana Komeh Abboah-Offei
  • Property Manager
  • from Cape Canaveral FL
  • Member since Nov 15, 2023

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Nana Komeh Abboah-Offei's profile image
Nana Komeh Abboah-Offei's profile image
Nana Komeh Abboah-Offei
  • Property Manager
  • from Cape Canaveral FL
  • Member since Nov 15, 2023
Nana Komeh Abboah-Offei
  • Property Manager
  • Cape Canaveral FL
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Creative Real Estate Financing

VA Loan and Non-Warrantable Condo

Nana Komeh Abboah-Offei
  • Property Manager
  • Cape Canaveral FL
Posted

Hello BP members. I am a real estate newbie, local property manager in Cape Canaveral/Cocoa Beach area, and have the opportunity to purchase a non-warrantable condo that I manage off-market. Is it possible to use my VA loan for this purchase? Appreciate any and all info. Thank you!

Orlando, Florida
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Brittany Minocchi's profile image
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Brittany Minocchi
  • Lender
  • from Massillon, OH
  • Member since Jan 25, 2022

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Brittany Minocchi's profile image
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Brittany Minocchi
  • Lender
  • from Massillon, OH
  • Member since Jan 25, 2022
Brittany Minocchi
  • Lender
  • Massillon, OH
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Brittany Minocchi
  • Lender
  • Massillon, OH
Replied

Owner occupancy is actually GOOD. If it is truly non-warrantable, you won't be able to get traditional conventional or government-backed financing unfortunately. There are other options, but not with the perk of 0% that a VA loan has. Debt service loans are a popular option for situations like this - you can expect to need 20-25%+ down. Happy to answer any other questions if you have 'em, feel free to connect!

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Brittany Minocchi - Barrett Financial Group, LLC
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