2 ms·
Zoning is politics, not finance.
by NkVczPkybiXICG 13y ago
Zoning is politics, not finance.
- breischl 13y agoYes, but the zoning affects the insurability of the property and also whether it qualifies as "conforming" for the purposes of the mortgage. A non-conforming mortgage cannot be easily resold to Fannie/Freddie or securitized, so it's more difficult to get financing on a non-conforming property, which is why I've been wrangling with various lenders for a month. And the insurability questions meant that I got to spend a lot of time on the phone with insurance agents.