Possible help with the "Summertime (Sales) Blues"*!
O% down. Tell me how..
People forget that VA qualified buyers can purchase a condominium in a VA approved Condominium Project for 0% down payment.
With interest rates hovering in the range of 8% or more, it becomes increasing difficult to sell new Condominium Units with conventional financing or FHA financing.
I work with excellent VA lenders in San Diego who are licensed throughout the USA.
The issue with new construction Condominium Projects for VA approval is the VA pre-sale of 70%.
Many lenders are unaware VA can reduce the 70% (to usually 51%) on approval of an appeal based on the conditions set forth in the VA regulations in Title 38 of the Code of Federal Regulations.
A lender client recently contacted my office about a 50+ Unit Condominium Project in the SF Bay Area, the developer of which is considering offering VA financing.
I have helped lenders throughout the USA with VA approvals for both existing and new construction Condominium Projects.
My direct line is: 619.531.8858.
(*with apologies to the late Eddie Cochran for referencing his hit, "Summertime Blues" from 1959).