Fannie Mae Rejected Us! Who Can Help?

The problem you're running into here is as a condo they call your situation "non-warrantable." This typically requires a portfolio lender, someone who won't be selling the loan to Fannie Mae/Freddie Mac, to complete. I know of a few banks that have good loan programs for this, or local credit unions and savings & loans organizations. Though I typically wouldn't advise people to use their builder's lender, it's a good place to start in this case; they probably know someone who's already found available financing, or they have an agreement with the bank that is financing their build project. Best of luck to you.

Stacey92, please feel free to contact me to discuss in greater detail. Is it 82% of the condo project or phase? There is definitely financing out there but more details would help find the best investor.Ken Kopper-Mortgage Consultant-Tenacity Mortgage (800)496-0235 x1262 kennethkopper@tenacitygroup.com NMLS #1450544

Hi Stacey - we can finance non-warrantable condos in Virginia and I would be happy to give you a quote and help you compare for the best deal. Feel free to call or email: 302-260-7091 or johnb@fairwaymc.com. We guarantee on-time closings and we can close very quickly.

Are you buying a condo? email me at pkelsey@myhsoa.com

Please email me your contact info at adennie@fmbranch.com. I will contact you in the morning. Freedom Mortgage is a Direct Lender and we lend in all 50 states. I will talk to you in the morning. Thanks.