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New Lending Restrictions On Condo Financing

By
Real Estate Agent with EXP Realty - Unity Home Group ak.16251

Anchorage real estate market is moving ahead! We do have new financing restrictions coming up on condo's beginning October 1st. This will cause a few hiccups, As of now the restrictions are you have to have more than 75% owner occupancy( for conventional loans), be approved on the FHA and or AHFC housing list( First time homebuyers) You will still as I know now be able to sell VA. If you are going to be selling give me a call to inform you of all changes and how to get past them the best we can to get it sold. For current regulations give me a call or send me an email.

Comments (2)

Ralph Gorgoglione
Metro Life Homes - Palm Springs, CA
California and Hawaii Real Estate (310) 497-9407

Those ever changing lender requirements are just killing me.

Can't keep up!

Sep 15, 2009 05:20 PM
Moshe Cohen
Valuation Solutions - Morristown, NJ
PhD

I believe that currently FNMA has an add on (higher rate) for condominiums. Dont they? Fha is also requiring appraisers to report more about HOA issues.

Sep 15, 2009 05:24 PM