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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Here's one... Posted by CC in OC on June 12, 2009 at 7:40 PM In Reply to: lenders? posted by Skimmer on June 12, 2009 at 7:10 PM I think ING Mortgage will do 'em. Here are their requirements. - No more than 35% of the units in the project can have a loan with ING Mortgage. - If the project is new or a condo conversion, the construction/remodeling for the project (or phase, at the underwriter’s discretion) must be complete. - Mixed-use condo projects are acceptable if the commercial portion: - Doesn’t exceed 25% of the total project (based on the greater of square footage or unit count) - Is limited to light retail and/or professional space (e.g., gift shop, bakery, dry cleaner, medical or dental office, law office) - Doesn’t negatively affect the marketability of the property A description of the mixed use space (including percentage of the total project) must be provided in the appraisal (or addendum to the appraisal) or in a letter from the Homeowners Association. Follow Ups: Two more... CC in OC 8:00 PM, 06/12/09 (1) Thanks CC for sharing. Skimmer 10:19 AM, 06/14/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I think ING Mortgage will do 'em. Here are their requirements. : - No more than 35% of the units in the project can have a loan with ING Mortgage. : - If the project is new or a condo conversion, the construction/remodeling for the project (or : phase, at the underwriter’s discretion) must be complete. : - Mixed-use condo projects are acceptable if the commercial portion: : - Doesn’t exceed 25% of the total project (based on the greater of square footage or unit : count) : - Is limited to light retail and/or professional space (e.g., gift shop, bakery, dry cleaner, : medical or dental office, law office) : - Doesn’t negatively affect the marketability of the property : : A description of the mixed use space (including percentage of the total project) must be : provided in the appraisal (or addendum to the appraisal) or in a letter from the Homeowners : Association. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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