NON WARRANTABLE CONDO AND CONDOTEL LOANS IN UTAH

NON-WARRANTABLE CONDO AND CONDOTEL LOANS

WE CAN LEND ON THESE TYPE OF PROPERTIES EVEN IF THEY HAVE MORE RENTAL UNITS THAN OWNER OCCUPIED .

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