Re: Right of First Refusal
From: Jim Snyder-Grant (
Date: Fri, 13 Oct 2006 12:37:04 -0700 (PDT)
Most refinancings are NOT FHA or VA loans. The secondary market (where
most loans go) generally requires FNMA approval, not FHA or VA. ROFR
clauses that are explicitly non-discriminatory are OK for FNMA.  But
FHA loans and VA loans can be important for qualified income-limited
buyers, especially in situations where the cohomes are priced at or
near 'affordable' house prices (generally, purchasable by families
earning 80% of median regional income). (See my previous posting for
more details).

-Jim, New View, Acton MA (where are homes, with one exception, are too
expensive for FHA & VA loans)

On 10/13/06, Sharon Villines <sharon [at]> wrote:

On Oct 12, 2006, at 11:03 PM, David Heimann wrote:

>       Recently Diane Simpson posted our Right of First Refusal section
> in our condo docs here at JP Cohousing.  I want to add that this ROFR
> language gave no one any trouble in getting their mortgages (and we did
> check it with our lawyers before putting it in).

I would add that the same is true of our community. And most of us also
refinanced at least once during the time that mortgage rates were

Sharon Villines
Takoma Village Cohousing, Washington DC

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Jim Snyder-Grant
18 Half Moon Hill
Acton MA 01720
978 266-9409

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