Lender Says Property Must Be Owner Occupied

I have a lender that says that in order to qualify for a line of credit or a mortgage against my investment property. It must be owner occupied. What is owner occupied to a creative investor anyway? My questions is can i do a lease option or a wrap around to get around this lending policy? If not what do you guys recommend? :-o

Comments(3)

  • jam2002nd March, 2005

    Use a different lender.

  • mattfish112nd March, 2005

    I have a lender that works in PA - let me know if you need his name/number. He can do a LOC on an investment property...
    [addsig]

  • rntdoc2nd March, 2005

    Thanks, you can post his information. Besides not using this lender, would using lease option or a wrap around mort. get around this lending policy? :-?

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