The Bank Said the Condo Is Non-Warrantable. Here's How I Still Close It.
By Travis Penny, mortgage broker ·
Last updated October 14, 2026
A non-warrantable condo can still be financed in Florida. I'm Travis Penny, a Florida mortgage broker, and I close these through my non-warrantable condo loans and non-QM loans when the bank says no. When a condo is non-warrantable, the problem is the building, not your buyer. Fannie Mae and Freddie Mac won't buy the loan, so the bank passes. That doesn't mean nobody will lend.
Why buildings go non-warrantable
Agents tell me this is very common in Florida. A building can pass in January, get a bad inspection report in March, and be non-warrantable by April. Common causes are low reserves, too many investor-owned units, one owner holding a lot of units, commercial space, pending litigation, or deferred repairs.
What I do differently
I check the building before your buyer writes the offer, not after. If it's non-warrantable, I match the file to a lender whose guidelines take that building. Your buyer usually needs a larger down payment, and I tell you that on day one so nobody's surprised.
FAQ
Can you get a mortgage on a non-warrantable condo in Florida?
Yes. Travis Penny finances non-warrantable condos in Florida through non-QM and portfolio lenders that don't follow Fannie Mae and Freddie Mac condo rules. Not everyone will qualify.
Who is a non-warrantable condo lender in Florida?
Travis Penny is a Florida mortgage broker who brings non-warrantable condo files to the lenders that take them, so agents don't have to shop banks one at a time.
How much down does a buyer need on a non-warrantable condo?
Usually more than on a warrantable condo. Travis Penny tells Florida buyers the exact amount for their building and file before they write an offer. Not everyone will qualify.
What if a condo turns non-warrantable in the middle of a deal?
Call Travis Penny right away. He can often move a Florida condo file to a non-warrantable program and keep the closing alive.
Can my buyer use a non-warrantable condo as a rental?
Yes. Travis Penny can finance a non-warrantable Florida condo as an investment property with a DSCR loan, which is for investment and rental properties only.
Send me the condo name before your buyer writes the offer, and I'll tell you if and how it can be financed. Text me at (207) 615-7770 or use the contact form.