Non-Warrantable Condo

Non-Warrantable Condo Loans

We offer Non-Warrantable Condo Loans Nationwide

Non-Warrantable Condo & Codotel Loans

Non Warrantable Condo & Codotel Loans

When Fannie Mae or Freddie Mac determine a condo project isn’t eligible under their guidelines the project is called a Non-Warrantable Condo.

Non Warrantable Condo

The project does not fit the three Fannie Mae or Freddie Mac class guidelines. Banks typically do not like to lend on condominiums in non-warrantable condo projects because they cannot be insured and cannot be sold off to an investor. The only lenders who will lend on a non-warrantable condo project is a typically a portfolio lender.

Non-Warrantable Condo Mortgage portfolio lenders lend their own money and hold the loan for servicing in their “portfolio” of loans.  They tend to lend on riskier real estate transactions and give higher rates due to the risk. Yes…this means a non warrantable condo typically have higher rates.

Non-Warrantable Condo Guidelines:

  • Nationwide Non-Warrantable Lender
  • Purchase, website buy information pills R&T and C/O Refinance
  • Full Documentation Only
  • 680 FICO Minimum
  • Fixed 30 & 15; ARM: 3/1, 5/1, 7/1
  • 80% LTV to $625K max loan amt
  • Loans to 75% to $1.5M, 70% to $2M, 60% to $3M
  • Foreign Nationals OK!
  • 75% LTV
  • Vacation/Second Home w/ full kitchen only
  • Max DTI ratio is 40% w/12 Months PITI Required Liquid. 24 months if >$1M loan amt
  • Non-Warrantable Condo Loan amounts up to $2M, 60% LTV
  • Low competitive conventional rates

What Makes a Condominium Warrantable or Non-Warrantable?

A NON-WARRANTABLE condo does not meet ANY ONE of these guidelines:

~ A Non-Warrantable Condo Is not: A condominium project with features that lenders view as favorable in terms of their risk exposure on loans secured by individual condo units.

~ A Non-Warrantable Condo Is not: A project that (including all common areas) is fully completed and the common areas are insured.

~ A Non-Warrantable Condo does not: Have the Homeowners Association controlled by unit owners (as opposed to the developer) for some period.

~ A Non-Warrantable Condo does not: Have most units are owner-occupied.

~ A Non-Warrantable Condo does not: Have one person who owns more than 10% of the units.

Loans on units in warrantable condos receive better terms than loans on units in a non-warrantable condo project.

Foreign Nationals

Foreign Nationals are ok up to 70% LTV higher case by case. Second home,vacation home or investment property. You can help us understand more about your needs by contacting us or submitting an Executive Summary.

Non-Warrantable Condo is not a Condo-tel!

Non-Warrantable Condo and condotels are different. Condotels, aka condo hotel, is a newer idea involving a combination of a resort style hotels with condominium ownership. To learn more about a Condotel Loan click here.

More on Non-Warrantable Conodo Loan:


Program many not be available in all states (case by case). Programs and guidelines subject to change without notice.

Find program guidelines for your your city or state:

Affiliations: NAMB | NBA | NAMP | GM

This is not an offer to lend. Call for details. Non-Warrantable Condo programs can change daily and without notice.

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