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Seeking any resources for refinancing on my co-op

Started by nikcic
over 15 years ago
Posts: 2
Member since: Mar 2010
Discussion about
I bought my co-op in 2007 at 30 year fixed 6.65%. I have great credit and sufficient income but was declined for a re-fi at 5% because my building was declined. Reason stated was: "Project declined - Not eligible for Non-Agency - presale under 51%." As I understand it, Fannie Mae won't underwrite any mortgages for pre-sale under 51% anymore and pretty much every big bank sells their mortgages to Fannie. Has anyone found a lender willing to refinance on a co-op with pre-sale under 51% Thanks!
Response by rb345
over 15 years ago
Posts: 1273
Member since: Jun 2009

Try posting on nationalmortgagenews.com. It's a site of and for mortgage
brokers and banks.I've done that many times and it is often very helpful.

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