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gjelneck
30 Posts |
 Posted - 08/07/2008 : 10:22:07 AM
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Hi, Here's my scenario:
* Purchase in Illinois
* 660 FICO
* Full doc - LP Streamline Accept
* O/O
* Condo (mixed use - 64% of the sq. footage is commercial)
* 90% LTV
* $248,850
I have a full file including appraisal ready to go! Can anyone help? Thanks. ;-) |
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Matt W.
1927 Posts |
Posted - 08/07/2008 : 11:03:10 AM
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| SBA I think will go to 90% but don't know anybody else...Good luck. |
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brad.easter
695 Posts |
Posted - 08/07/2008 : 11:10:02 AM
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What is the zoning on the property? Define mixed-use. Will the purchaser live in the residential portion?
If commercial zoning, we can look at it. |
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gjelneck
30 Posts |
Posted - 08/07/2008 : 1:20:18 PM
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** Zoning is Class B-3
** Zoning Description - Central Business District - condominium dweelings are allowed under this classfication.
** Zoning compliance - Legal
Borrower IS planning on living there and he is anxiously waiting.
Thanks for your help. Let me know if it's doable. ;-) |
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Scott Appleg8
57 Posts |
Posted - 08/07/2008 : 3:12:56 PM
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Please contact me as we do mixed use owner occupied properties.
Scott Applegate
Unity Bank
614-975-8478
scott.applegate@unitybank.com
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mahedward
40 Posts |
Posted - 08/07/2008 : 4:29:19 PM
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Please contact me. I can help you with this scenario.
Edward Mah
U.S. Home & Loans
310.301.0425
mah_edward@yahoo.com |
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PinnaclePeters
1101 Posts |
Posted - 08/08/2008 : 06:07:44 AM
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What is the commercial portion being used as - retail store? restaurant? dry-cleaners? accupuncturist?...
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gjelneck
30 Posts |
Posted - 08/08/2008 : 08:56:59 AM
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| It's retail space. |
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