Can a mortgage at the end without a certificate of occupancy?

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  1. Reply
    February 8, 2011 at 1:40 pm

    Certainly it can close. It’s not the mortgagor’s responsibility to guarantee occupancy status. That is the BUYER responsibility.
    The lender is ONLY concerned with the market value of the property vs the potential resale value.

  2. Reply
    February 8, 2011 at 2:37 pm

    Yes, but you cannot close on the house without the certificate.

  3. Reply
    February 8, 2011 at 2:57 pm

    Actually it can’t.

    I know, I am frantically trying to get my cert so that I can get a regular mortgage, instead of this construction loan, which expired already.

    If you can’t get a final you can’t get a loan. Period.

    I have exception credit, so I know this is not me.

  4. Reply
    February 8, 2011 at 3:18 pm

    All mortgage loans are not created equal. If you are looking for a loan, you have probably discovered the array of loan types and options. It can be confusingand are easier to qualify for than conventional loans. They are also guaranteed to the lender, which allows the borrower to obtain more favorable loan terms.

  5. Reply
    Marvelous S
    February 8, 2011 at 3:55 pm


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