True Non-Warrantable Condo Loans

Loans up to $8M

Purchase, Refinance, or Cashout

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No Condo Cert Required

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No HOA Questionnaires

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Pending Litigation OK (Disclosed)

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Condo Conversions OK

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1st Loan in New Condo OK

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Owner & Non-Owner Occupied

Non-Warrantable Condo Loans

There are many reasons that Condos are non-warrantable, but that doesn’t have to stop you from purchasing one.

What does non-warrantable mean? Condominium complexes can be deemed non-warrantabe when they do not meet Fannie Mae or Freddie Mac’s traditional qualified federal lending requirements.

A Non-QM (non-qualified mortgage) can address this issue since it does not adhere to the same guidelines.

We have a True Non-Warrantable loan for condos and condotels for owner occupied, non-owner occupied investors, and foreign national investors.

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What is a Warrantable Condo?

No single entity owns more than 10% of units, including the developer.
At least 51% are Owner Occupied.
Fewer than 15% of units are in arrears on association dues.
There is no litigation in which HOA (homeowners assoc.) is named.
The total space used for nonresidential or commercial purposes may not exceed 35%.
Requires a Condominium Project Questionnaire
Must be FHA approved

Can I still get a loan if Non-warrantable?

Yes, we have Non-QM products that address non-warrantable condos. Contact us to discuss.

What if it's a Condotel?

Loan products are available for Condotels. Contact Us to discuss the details.

HOA Pending Litigation, what now?

Pending litigation is not a deal killer as long as the litigation is not on the Subject property for purchase/refi. Example: Material defects are not shown on the Appraisal of the unit.