Non-Warrantable Condo Loans
Flexible financing for non-warrantable condominiums.
Connect With A Loan OfficerFound the perfect condo? We can help you get it
You’ve found a condo you love. The location is right, the price feels good, and you can picture yourself there. Then you hear it’s “non-warrantable”, and suddenly the financing gets complicated.
Here’s the good news: a non-warrantable label doesn’t mean a dead end. It just means the property doesn’t meet standard guidelines set by Fannie Mae or Freddie Mac, usually because of things like high investor ownership, ongoing litigation, or commercial space in the building. None of that has to stop you.
First Heritage Mortgage offers financing specifically for non-warrantable condos, so you can move forward with confidence.
Program Highlights: Non-Warrantable Condo Loans
We offer a range of financing solutions for non-warrantable condominiums, so you can find the mortgage you want — minus the hassles and stress you don’t.
Highlights of our non-warrantable condo loan offering include:
- Purchase or refinance options
- High loan-to-value (LTV) financing and competitive loan limits
- Choose between fixed and adjustable rate options
- Flexible qualifying criteria for self-employed, investors, and more
- Primary residence, second homes, and investment properties all eligible
What makes a condo non-warrantable? Let’s break it down
Most mortgage lenders use guidelines from Fannie Mae and Freddie Mac to approve loans for condominium properties. When a condo building doesn’t meet those guidelines, it’s labeled “non-warrantable.”
A condo unit might be considered non-warrantable if:
- The project is new construction and/or has yet to be completed
- The developer has not turned over control of the HOA to the owners
- A high percentage of units are occupied by non-owners
- The community allows short-term rentals
- A single person or entity owns more than 10% of the total number of units
- The building owner or developer is involved in litigation of any kind
None of these factors necessarily make the property a bad investment. They just require a different kind of loan. That’s exactly what we offer.
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Your dream condo is still within reach
Non-warrantable doesn’t mean non-financeable. With the right lender and the right loan, that condo could still be yours. We specialize in finding solutions when the standard path isn’t available. Talk to our team today and let’s map out your options!
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