How can a lender outside of Ca do a loan on an HOA in SF?

Because of the potential turmoil in an HOA, how can someone in New Hampshire do a loan in the SF Bay area?

I actually had a lender do a loan for a Buyer (here in the bay area) 2 years ago in NH and she did just fine, however with so many HOA's having problems, how can someone out of the area do a good job? Does the required documentation apply to all lender?

I know of an HOA that is in BIG trouble in the Bay Area, yet there is nothing in the MLS about it.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

March 24 2010 - Foster City
 Share
 RSS
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (3)

Profile picture for PacificWestCapital
Some lenders will do a loan and some won't. It used to be when the HOA had and pending litigation matters that a lender would turn their head and say no thank you. As far as being "outside California", it all depends on licensing of the lender. If I understand your question correctly. A fed charter bank for example can lend in 50 states.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

March 25 2010
Profile picture for WA and CA FHA Expert
HOA problems is one of the big reasons lenders have much more restrictive underwriting guidelines on condos versus single family homes.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

March 25 2010
Profile picture for DaveAndersson
Lenders will send the HOA a condo questionnaire to see what info is disclosed. Condos also need to be approved by FNMA, FHLMC or FHA/VA which covers most of the financing available today. These resources can all be looked up online. Underwriters will also use sites like Google to research any potential issues if there is any doubt.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

March 24 2010
 

Have a question? Ask it here.

What's this?
Close

By starting a discussion, you can expect more of an interactive, back-and-forth experience where the conversation can go in many different directions.

Or start a discussion

E-mail successfully sent!Submission failed!

Related Questions
QuestionHow can a lender outside of Ca do a loan on an HOA in SF?
  • Latest answer by Scot King
  • March 25 2010
Related Articles
GuideLender Dos and Don'ts
GuideLenders - How to Succeed on Zillow
GuideAbout Zillow's Mystery Shopping Program
GuideLender Resource Center
GuideLender Testimonials
Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy