Wat can I do to get my condo financed?

It's unlikely the project is not to code.. What the lender is most likely referring to is not the construction of the condo's but rather the financial position of the association and whether or not it meets the lenders strict condo guidelines. Nonwarrantable condos's are a problem for all conforming loan types.. Typically, when a loan is initiated, they eventually get securitized and sold on the open market.. in order for them to be sell-able, they must adhere to a "Conforming" set of guidelines.. Cond's in particular can be tricky since they represent a greater risk down the road.. When markets decline, they're one of the first property types to drop in value, and conversely, one of the last property types to increase in value.. So because of the added risk, lenders have additional guidelines in place when lending on condo's.. The lender will ask for a questioner be filled out by the association. They will ask how many owner occupied units there are, how many investor owned, any pending foreclosure or "Non Paying" owners, how much do they have in reserves, any pending litigation, etc, etc, etc.. depending on how these questions are answered will determine if the project is "Warrantable" or not.. in your scenario, it's obviously not.. There are lenders out there that will finance nonwarrantable condo's, but expect the terms of this loan to have much higher rates and fees than warrantable condos'. Also understand that even those lenders who advertise they will finance nonwarrantable condo's will still require a questioner. And although their guidelines will be less strict than conforming guidelines, it's still possible to get the project turned down.. For financing options, try talking to your neighbors and see how they paid for their properties.. If they have a lender, get the info and contact them directly.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Give me a call. I'm in Oregon and I offer loans on warrantable and non-warrantable condo projects.