I'm an LO and I have several large non-warrantable and/or condo hotel projects coming up. I am looking for a lender that has a program and where I can have my lender (very large privately held lender) approve the broker account.If anyone can help - I would sure appreciate it!Thanks!tjs(480) 532-0680 by toddsull195 from , Arizona. Sep 5th 2013
Good luck with your search, but I can say after looking for this product last year that I could not find any lenders out there willing to do condo hotels for sure, and the non-warrantable condo's are near impossible.. what really determines if a condo is warrantable or not is extensive.. if the borrower is putting 20% down or more, you might get a limited review from the DU findings, which can eliminate some of the issues, but when it comes to the appraiser, he has to list occupancy, and if it's below 50%, your deal is going no where.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
we will warrant condos in house, however we dont have a wholesale departmentemarez@thefederalsaviongsbank.com
You can try these guys https://www.advancialmortgage.com/ - they do wholesale relationships, but as previously mentioned you're looking at 20% down and usually 100k minimum loan amount, however they will look at everything including condo hotels.
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