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Can't get a mortgage in a non-warrantable condo building

| Budgets & Finance |  


Question:

Prospective buyers of units in our condo building are having problems getting FHA mortgages because we are an un-warrantable building with over 50% renters vs owners.  Its not the right owner-occupied ratio.  This is also hurting our property values.  We are thinking of passing a bylaw to curb rentals.  Has anyone experienced this before?  Florida.


Answers (20)

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