Both Non Warrantable and Codotels

·         Owner Occupied/Second homes

·         2^nd home must be located in vacation/resort area

·         Rental Income is ok if allowed by HOA

·         Must have full kitchen and separate bedroom

Non Warrantable Condos

·         Construction completed including streets and driveways

·         Condo Questionaire required

·         HOA must have adequate reserves (case by case based on project)

·         No budget deficiencies

·         No structural or environmental issues

·         No pending litigation against HOA or Builders

·         Max LTV 80%

·         Properties with no same building comps done on a case by case basis

·         Apartment conversions are okay

·         Loan amounts to 3 million

·         Large percentage of commercial use, investor concentration, Non Owner OCC are acceptable

Condotels

·         No Motel conversions

·         Must have full kitchen

·         Condo must be able to be rented out

·         Min SQ ftg is 500

·         Minimum FICO score is 680

·         Max loan amount $500K (higher amounts with liquid assets and strong borrower case by case)


DANIEL PARIS
APPLY ONLINE AT www.utahlowrate.com
 
Professional Mortgage Loan Specialist
Christian Roberts Mortgage

512 E Winchester Plaza
Murray, UT 84107
 
(801) 604-4949 mobile 
(801) 716-5237 office 
(888) 880-3472 direct fax 
danparis02@hotmail.com

Apply Now

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