Non-Warrantable Condo Loan

Overview

A condo is "warrantable" when it meets a long list of Fannie/Freddie requirements covering HOA finances, owner-occupancy ratios, single-entity ownership, commercial space, litigation status, and more. Condos that fail any one of those checks are "non-warrantable" and can't be financed with a standard agency loan.

Non-warrantable condo loans come from portfolio and Non-QM lenders willing to underwrite the project on its own merits. They're common for newer buildings still in HOA control, projects with significant short-term rental activity, or buildings with high investor concentration.

Who it's for

Buyers of newer downtown / urban condos
Investors purchasing in mixed-use buildings
Buyers in condo-tels or short-term-rental-friendly buildings
Anyone whose dream condo has a non-warrantable HOA

What's typically reviewed

Strong credit profile
Larger down payment (typically 20-30%+)
HOA financial documents and questionnaire
Standard income / asset documentation
Reserves

This is a general description, not a guarantee of approval. Specific requirements vary by lender and program. Final qualification is determined during underwriting.

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