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bmagill1
191 Posts |
 Posted - 05/08/2008 : 12:13:23 PM
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| Does anyone know where I could take an FHA approved loan that the property is zoned Commercial? |
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gsgroupinc
1682 Posts |
Posted - 05/08/2008 : 12:16:50 PM
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| can you get a rebuild letter from the city building dept at 100% |
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bmagill1
191 Posts |
Posted - 05/08/2008 : 12:41:57 PM
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| If we can get that, does it make it possible depending on underwriter or does it make it a reality? |
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infinitelendingi
99 Posts |
Posted - 05/08/2008 : 12:44:00 PM
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i don't one a year ago, you will need the rebuild letter as
the lender will request. the rest is up to how strong the file is
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nowbroker
503 Posts |
Posted - 05/08/2008 : 12:47:00 PM
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| Generally the appraiser needs to note that it is the highest and best use (as residential use, not commercial), there is no major commercial uses nearby that would be a detriment to using as a house (IE not next door to a high volume gas station), and the area is not changing from residential to commercial, in addition to the rebuild letter. |
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gsgroupinc
1682 Posts |
Posted - 05/08/2008 : 12:49:11 PM
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quote:
Originally posted by infinitelendinginc
i don't one a year ago, you will need the rebuild letter as
the lender will request. the rest is up to how strong the file is
True
The rebuild letter will be KEY |
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infinitelendingi
99 Posts |
Posted - 05/08/2008 : 12:52:51 PM
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U just need to get a letter or the ZONING CODE from the city and it has to say
IN CASE OF AN NATURAL DISASTER, IT CAN BE REBUILD 100% AS A RESIDENTUAL.
if it does not say that , then don't waste your time with this file |
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