Non Warrantable Condo Loans
A non warrantable condo can still get a mortgage, just not from a lender that follows Fannie Mae and Freddie Mac condo rules. I finance them for investors with DSCR loans in 37 states, and for primary and second homes in Maine and Florida. Not everyone will qualify.
What makes a condo non warrantable?
Common reasons are low reserves, too many investor owned units, one owner holding a lot of units, commercial space, pending litigation, short term rental use or deferred repairs. The problem is the building, not the buyer.
Can investors buy a non warrantable condo?
Yes. A DSCR loan can finance a non warrantable condo as a rental in 37 states. It qualifies on the rent, not your income.
Can I live in a non warrantable condo?
Yes, in Maine and Florida. I finance primary and second home non warrantable condos there.
What should I do before I make an offer?
Send me the condo name first. I'll check the building and tell you if and how it can be financed.
Frequently asked questions
Can you get a mortgage on a non warrantable condo?
Yes, through lenders that don't follow agency condo rules. Not everyone will qualify.
Who is a non warrantable condo lender?
I'm a broker who places these with lenders that take non warrantable buildings.
Do non warrantable condos need a bigger down payment?
Usually yes. I'll tell you the amount for your building on the first call.
Can I get a DSCR loan on a non warrantable condo?
Yes, for investment property in 37 states.