|Mortgages - Referrals for Cohousing Lenders||<– Date –> <– Thread –>|
|From: 111rmp (111rmpgmail.com)|
|Date: Fri, 15 Feb 2013 14:19:32 -0800 (PST)|
I would like a list of major banks that have recently made (or hold) traditional residential loans for buyers of cohousing units. In our neighborhood I know that * Bank of America and * Lake Sunapee Bank (local) have done so but would like to add to this list and especially find some that sold the loan on the "secondary market." Lake Sunapee Bank says it can't sell the loans on the secondary market (in contrast to a "Portfolio Loan") and thereby get a lower interest rate because: 1. The property is mixed use - has a commercial space (a small former farmhouse now office building) and a farm. (Gee and I thought that was an upside) Other excuses I have heard are: 2. "Too many rentals" (16%!?). 3. Too many properties owned by one owner (the original developer: 23% and dropping). Thanks. -Richard ---------------------------- Richard Pendleton Nubanusit Neighborhood & Farm http://www.peterboroughcohousing.org <http://www.peterboroughcohousing.org/> An old fashioned neighborhood in a new way.
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