Video Transcript:
You found a great condo, but the loan got denied. It is not your fault; the building has a secret legal problem most lenders fear. I am David Ghazaryan. We don't use the big company rulebook. We have our own way of finding special loans that get around these problems. Big lenders need to sell your loan. They can't sell it if the condo has a lawsuit. This makes the property something called “non-warrantable” to them. We use portfolio loans. The lender keeps your loan instead of selling it. This means they can look at the real story behind the lawsuit now. These loans can have higher rates. But they let you buy the home. A bigger down payment makes you stronger and shows the lender you are safe. I explain this entire process in a new article on my website. See the links in the description to follow my work and read much more.
Read Blog Here: https://www.iqratemortgages.com/blog/finance-a-san-diego-condo-with-hoa-litigation
