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.


Funding Capacity

Up to 30yrs



Payment Schedule

7 business days

Approval Speed


Time to Closed

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.


Key Points to Remember


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Last updated: [August 7, 2023]

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