As a mortgage broker, we work with hundreds of wholesale lenders, allowing us to shop scenarios to these lenders and find solutions when traditional lenders can’t. Our loan officer, Roman Maranets, recently proved that once again.
A borrower in Florida came to us needing a home equity line of credit (HELOC) on their beachfront condo. The challenge? It was a non-warrantable condo with a high investor concentration, meaning investors owned a large portion of the units, and many were being used for Airbnb rentals.
Most lenders would stop there. We didn’t.
Roman leveraged MortgageDepot’s specialized programs and industry relationships to secure a $150,000 HELOC for the borrower, even with the building’s unique circumstances. This funding provides the client with access to funds from their equity for renovations, investments, or other financial needs, all without needing to sell their property.
Non-warrantable condos, especially those with high investor use or short-term rentals, are often rejected by traditional banks and mortgage companies. We recognize that these properties can still be excellent investments, and we have the tools to finance them.
Roman’s Expertise
Roman specializes in navigating challenging loan scenarios. His ability to think creatively, communicate effectively, and find alternative lending options ensures that even complex transactions close successfully.
Do you have a non-warrantable condo or a challenging financing situation? Contact MortgageDepot and let experts like Roman Maranets help you find the right solution.
