All Forum Posts by: Alan Lacey

@Chad Moye if they can’t close because they had to use fha then you have cause, but just getting a fha appraisal isn’t a issue because they can use that for a conventional deal if it doesn’t work for them fha.

Fannie Freddie second home rider requires first year primary purpose be for own use, and cannot be out of owner control so no rental agency etc. after 12 months it can be a full time rental. Just google fnma second home rider.

12 months. It is in the mortgage (or deed of trust depending on your state).

You transfer from llc to yourself with a quit claim deed an that is what you would need to to obtain regular conventional financing on the home. A lender can coordinate that for you with the title company and record at closing. 

I would ask your servicer today what their policy is, and would suspect it is a tear from acquisition 

@Dean Attali is it possible there US notaries in Windsor or

Other major border town, or maybe on of banks that operates in both countries?

@Timothy Allen I sure this is the obvious answer but low down options almost all reserved for primary residence. The real answer is to but a new principal residence every year if life and circumstances allow it. No cheaper way to finance. Obviously rents being sufficient to offset payments important part of be able to keep qualifying.

@Aaron Gajewski again despite the other well intentioned advice of this is a conventional loan, which based on terminology you used I think is a good bet. The occupancy terminology is in second home rider and if Fannie/Freddie loan it is the same verbiage for every lender. Given specific changes made to second home rider would think not a issue but call servicer. Also if loan is from last couple of years check the rider because I have found many loan officers are not aware of change (if that is whom you spoke to).

@Amanda Schneider by any chance does the buyers attorney work for the same firm as your sellers attorney did when you purchased it?

@Jeff Ashachik I cannot imagine you will find one. Only thing I could imagine is a bank that services both, but more likely need to find a bank there that works with foreign nationals. Many countries, as I am sure you know, do not have same type of mortgage options we take for granted and have many hoops to jump through to be able to buy, much less finance.