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stiluneek · Joined: 27 Nov 2009 Posts: 1 1.42 Dollars($)

I live in middlesex county in n.j. me and my wife are looking for a house right now we found a property that is a half duplex its basicly a townhouse with only 2 units side by side for some reason we cant get a fha loan because they are listed as a condo with less than 4 units so we have to get a conventional loan can anyone tell me if they ever heard of this? We can get a conventional loan my credit score is 680 but my wifes is only 635 and my mortgage guy told us she needs to get het score up to atleast 670 for us to get a conventional loan with 10 percent down we were hoping to get a conventional loan with 5 percent down can anyone tell me the credit guidelines for conventional loans.....thanks

raymond · Posted: Sat Nov 28, 2009 11:23 am Post subject:

>>can anyone tell me if they ever heard of this?

The guidelines for FHA and condos are in a state of change right now, so I'm not sure how to answer your question. The only person I trust to give me a factual answer when I have questions in that area is Shane Milne. He's always current on all FHA guidelines, and his number is 949-273-4161.

eric1 · Posted: Sat Nov 28, 2009 8:20 pm Post subject:

Your scenario does not surprise me. It is hard to give you advice just based upon the information that you provided.

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JKennedySLG · Posted: Tue Dec 01, 2009 11:16 am Post subject:

What did the property appraise as, a condo building or 2 unit residence?

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cant get a fha loan for a property in n.j.