Denied condo complex? We have a solution for that too.
A non-warrantable condo is a condominium that does not meet the financing criteria of traditional lenders or government-sponsored enterprises (GSEs) like Fannie Mae or Freddie Mac.
As a result, financing options are limited to non-conventional loans, private lenders, or portfolio loans, often referred to as Non-Warrantable Loans.
Common reasons for non-warrantability
High Investor Ownership
Over 50% of the units are investor-owned (not owner-occupied).
Single Entity Ownership
A single owner (individual, corporation, or developer) holds more than 10% of the units.
Litigation (case-by-case basis)
Active legal disputes, especially involving structural or safety issues.
Inadequate Reserves
Less than 10% of the annual budget allocated to maintenance reserves.
Delinquent HOA Dues
Over 15% of units are 60+ days delinquent on HOA fees.
Short-Term Rentals
Allows transient rentals (e.g., Airbnb or VRBO).
Inadequate Insurance
Insufficient master insurance coverage.
Critical Repairs / Deferred Maintenance
Postponed repairs or maintenance that has not been completed by the HOA.
All these issues and more can be done with a Non-Warrantable loan.
Tell us about the building
Send a few details and we’ll follow up with non-warrantable financing options for that complex.