Non-Warrantable Condo

Financing for newer condo projects that may not meet conventional program requirements.

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Question:

Question:

Looking to purchase a condo but a mortgage lender told you it doesn’t qualify for conventional financing?

CONSIDER A NON-WARRANTABLE CONDO LOAN

Often, a condominium is considered non warrantable when phases of the condo development are not complete, the owners have not turned over control of the association to the units owners, and/or common areas are not complete. That’s where Team 101 at Northpointe Bank comes in!

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FACTS

Minimum Credit Score:

620

Minimum Down Payment:

10%

Max Debt-to-Income:

43%

Max Loan Amount:

$484,350

Available for:      Primary Residences          Second Homes    

QUICK
FACTS

Minimum Credit Score:

620

Minimum Down Payment:

10%

Max Debt-to-Income:

43%

Max Loan Amount:

$484,350

Available for:

  Primary Residences
  Second Homes

Reasons a condominium might be considered non-warrantable:

  • Less than 90% of the total units have been conveyed to owners
  • A single person or entity owns more than 10% of the units
  • Developments in which more than 20% of units are commercial or mixed use
  • Developments that have a higher concentration of renters
  • All units and common areas are not complete
  • The development is subject to future phases and construction
  • The developer has not turned over control of the association to the unit owners

Program Features:

  • Primary Residence or Second Home
  • Maximum Loan amount up to $484,350
  • Conforming fixed or ARM with various loan terms available
  • Purchase with as little as 10% down

All loans are subject to credit review and approval. This is not a commitment to lend.

Amortization Options:

Is Non-Warrantable Condo Loan Right for You?

Fill out this questionnaire to see if we can help you achieve your homeownership goals with a Non-Warrantable Condo Loan.

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CALL US NOW           804.724.LOAN       OR GET IN TOUCH ONLINE       
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CALL US NOW

   804.724.LOAN

GET IN TOUCH ONLINE

CONTACT US

Non-Warrantable Condo are available in the following States: Alabama, Arizona, Colorado, Florida, Georgia, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee, Utah, Virginia, Washington

Special Offers and Programs

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Why Choose ?

LOW RATES

We offer some of the lowest mortgage rates in the industry, along with truly innovative, tailored programs.

GREAT SERVICE

Our mission: client-focus. As your personal lender, we value listening and delivering on what is most important to you.

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Move into your new home sooner. Time saved plus low rates equals more savings for you.