COVID-19 Updates and Forbearance Info

As a designated “essential business,” JVM Lending is open and funding mortgage loans during the COVID-19 crisis. Most types of mortgage financing remain available for qualified borrowers. If you are looking for information relating to payment forbearance, please see JVM's Forbearance Resource Center.


Important Condo Considerations

Below are twelve things buyers and agents should consider if they plan to finance the purchase of a condo. I repeat these items from time to time b/c they are so important and b/c we continue to add so many people to our blog distribution list. Concentration Rule. No single entity/person can own over 20% […]Read More

Condo Issues: Concentration? Delinquent HOAs? Oakland Tribune Bldg :)

First, unrelated to anything, if any of you appreciate the Oakland Tribune Building as much as I do, here is a great podcast discussing it: Secondly, we have had condo deals below up recently b/c of HOA issues – one involving “concentration” (one entity owns more than 10% of units, and another involving delinquent […]Read More

All Questions to Ask When Evaluating Condo Financing/Purchases

We frequently discuss Owner Occupancy ratio requirements for condos, but there are many other important considerations that need to be addressed up front. The below are questions we ask all buyers and Realtors who are considering a condo purchase. These are all questions that significantly affect condo financing and they need to be known up […]Read More

Question HOA Owner Occ %’s; HOA Not Always Right

We have an investor buying a condo. Condo complexes need to be over 50% owner occupied for “investor” financing. Owner occupancy ratios are irrelevant for owner-occupied financing. The HOA initially told us that the Owner Occupancy ratio was 44% (too low for investor financing). The HOA simply based their estimate on the % non-site addresses […]Read More

Condo in Litigation? Not a Deal Killer

We closed a transaction last week on a condominium with a Homeowners Association (HOA) that was involved in litigation. The litigation had to do with some mold in a building that was not attached to our subject property’s building in the same complex. In any case, if litigation does not involve the structural integrity of […]Read More

Skip Condo Because High HOA Dues Can Buy More House; $100 = $20,000

We recently had a buyer make an offer on a small CONDO with $470 of HOA dues. Sky-high HOA dues are not uncommon, as they seem to be climbing everywhere. The problem is that high HOA dues often make properties unaffordable for our clients. $100 of HOA Dues translate to about $20,000 more purchasing power […]Read More

What to Watch for When Bidding on a CONDO? Flood Insurance

Congress recently extended funding to FEMA, restoring the availability of Flood Insurance. Transactions in need of flood insurance have been for on hold for the last 2 weeks across the country because Congress “forgot” to fund FEMA before their Spring recess. When bidding on a Condo, there are numerous criteria to check (Complex FHA approved? […]Read More