I am looking for financing for a 1br/1ba ocean front condo in maryland. My purchase price is 232k with 2k seller kickback and 1k down. I have 10% as a down payment. The appraisal came back at 320k. The problem I am having is the condo is under 600 sq/ft (which the underwriters dont like) Is there anyone who can help? I was supposed to go to settlement last friday and was told yesterday about the denial because of the square footage issue. I would only require the loan for 6 months to allow me to refinance.
This sounds like something doable. Be prepared for possible higher rates for the short term financing. I sent you a pm.
Is the building 4 or less stories or > 4 stories?