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Mortgage for Condo, complex 60% rental

We live in Cincinnati, OH. Husband bought condo in 2008 before the housing market busted. At that time he was able to get a conventional loan. We are looking to sell and buy a house. The complex is more than 60% rental. No one person owns more than 50%. We know FHA is not an option due to rental percentage. We've been told that our only real option for a buyer will be a cash deal. Seems pretty unlikely that we will "stumble" upon that. Is this true? If not, does anyone have suggestions about where to direct for loans or how best to find an appropriate buyer?
  • April 26 2013 - Cincinnati
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Answers (3)

Profile picture for DanWeis
Which condo complex are you in?
  • April 26 2013
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Profile picture for user0732125
Thank you for reponding. We have done that. Unfortunately, there have been sales in the community in two years, April of 2011.
  • April 26 2013
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Profile picture for DanWeis
You may want to consider having a Realtor check recent condo sales in your community to see what types of financing were used.  Then find some lenders, who will do those types of mortgages and provide that info to interested buyers.

Good luck!
  • April 26 2013
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