Non-Warrantable Condominium Loans

One of our specialties is providing loans to purchase or refinance condominium properties that do not meet Fannie Mae and Freddie Mac’s guidelines.

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Non-Warrantable Condominium Loans

Non-warrantable condominiums are units that fail to meet the lending standards of government-sponsored enterprises–Fannie Mae and Freddie Mac–or the government agencies FHA and VA. These properties are not eligible for traditional loans; thus, making the financing options more limited.

What makes a condo non-warrantable?

The specific guidelines vary, but in broad strokes, warrantable condos must have these general characteristics:

  • A single person or entity does not own a large percentage of the units;
  • The majority of the units are owner-occupied;
  • It does not allow short-term rentals;
  • There is adequate insurance coverage to protect the project from unexpected losses;
  • There are sufficient budget reserves for replacements for items such as elevators or repairs;
  • There is a low percentage of unit owners delinquent in their homeowner association (HOA) assessment fees;
  • No fraud has been committed by officers of the HOA; and
  • There is no serious litigation by or against the HOA that could result in costly legal fees.

If a project fails to satisfy any of the above requirements, your unit of interest is deemed non-warrantable.  For example, if construction is not complete yet, the project is still owned by the developer; hence, failing the requirement that a single person or entity does not own a large percentage of the units.


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Pre-Qualification will provide you with an initial quote with the following information:

  • Loan amount
  • Type of loan program
  • Loan to value (LTV)
  • Interest rate
  • Processing times.


Note: Pre-Qualification will NOT require credit to be obtained.

Loan Application

Please click on the Proceed bottom below to complete the Loan Application and create your account to monitor the loan process application.

Note: This process REQUIRES credit to be obtained.

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