Need lender for unwarrantable condo purchase

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kneoption

2 Posts

Posted - 07/16/2008 : 2:16:14 PM

· 95% LTV

· TX purchase

· owner occupied

· 727 FICO

· Condiminiums in Dallas TX

· Condominium project built 1971

· 12 units

· 11 o/o or second home

· 1 is occupied by tenant

· Biggest problem: One owner has 3 units

Fannie and Freddie states that any one owner cannot have more than 10% ownership. Know of any lender that will bypass this requirement?

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