Re: Policy Committee & Condo law and Cohousing?
From: Sharon Villines (sharonsharonvillines.com)
Date: Mon, 15 Jul 2019 12:10:40 -0700 (PDT)
Our new owners and refinancers have had success trying a new mortgage broker. 
Not all of them will look for a bank that is welcoming.

Sharon

> On Jul 15, 2019, at 2:56 PM, Kathryn McCamant <kmccamant [at] 
> cohousing-solutions.com> wrote:
> 
> RE Condo Law and cohousing:
> 
> The issue is not state condo laws, but rather Fannie Mae, Freddie Mac, and 
> FHA that dictate what mortgages can be sold on the secondary market. To get 
> the most competitive mortgage rates, you need to fit into their regs, and 
> bankers will spend almost no time to look at something that looks a bit odd. 
> If want to make changes to what you can do as an Homeowners Association, you 
> need to work with those federal programs. We've had some limited success with 
> Fannie Mae and FHA on other issues. 
> 
> Katie McCamant, President
> CoHousing Solutions
> www.cohousing-solutions.com
> 
> 
> 
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