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Financing a Condo in a 2 Unit Building

Started by MarcieP
almost 14 years ago
Posts: 34
Member since: Jan 2010
Discussion about
I'm considering buying an apartment in the city, the apartment is in a 2 unit condo, price range is between $1.5-$2.0M. Will it be difficult to get financing? Are there banks who specialize in small buildings?
Response by shong
almost 14 years ago
Posts: 616
Member since: Apr 2008

Hi Marcie, a 2-4 unit condo isnt much more difficult than a regular condo (5 or more units). Are you purchasing a re-sale unit? Is this a conversion or a new construction? Are both units sold and conveyed? Based on your price point, we even allow up to 80% financing. I can answer any questions you have on smaller condos. Please feel free to email me. sunny.hong@bankofamerica.com

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Response by MortgageMan787
almost 14 years ago
Posts: 96
Member since: May 2008

Marcie,

If you could provide some more info we would be happy to take a look at it for you. We speacialize in jumbo lending.

Mitchell

mcohen@firstrepublic.com

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Response by streetsmart
almost 14 years ago
Posts: 883
Member since: Apr 2009

Hello,

Mortgage Broker here that has several relationships with various banks including Wells Fargo.

Feel free to contact me.

Ellen Silverman
www.esfunding.instantlender.com

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Response by hshs
almost 14 years ago
Posts: 1
Member since: May 2011

I was wondering the same thing about a 2 unit condo...it's a resale, and other unit hasn't paid their property taxes in full since Oct '10.

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