What makes a condo non-warrantable?

Factors can include certain litigation, high rental or investor concentration, commercial space, HOA delinquencies, and other project-level issues, depending on the applicable guidelines.

Can you get a mortgage on a non-warrantable condo?

Yes, some lenders offer financing for qualifying non-warrantable condos through non-QM programs, subject to the requirements of the property, borrower, and loan program.

Are non-warrantable condo loans more expensive?

They may have higher rates or costs than conventional financing because the lender may be evaluating different property characteristics, risk considerations, and underwriting requirements.

Can an investment condo be non-warrantable?

Yes. An investment condo can fall outside conventional project guidelines, although the specific reason for the property's ineligibility will determine which financing options may be available.

What documents are needed for a non-warrantable condo loan?

Lenders may require both borrower and project documentation, including income and asset information, HOA financials, insurance details, and other information about the condo project. A non-QM mortgage may be one financing option, depending on the property and borrower.

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