A condominium complex with attributes that mortgage lenders view as favorable in terms of their risk exposure are called warrantable condos.

The requirements of warrantable condo include such features as the following: the project is fully completed and the common areas are insured, the Homeowners Association has been controlled by unit owners (as opposed to the developer) for some period, most units are owner-occupied, and no one person owns more than 10% of the condo units.

Mortgage Loans on warrantable condos receive better terms (for example 100% financing) than loans on non-warrantable condos.

What is Warrantable Vs Non Warrantable Condo

Since mortgage lenders view warrantable condos to be a safer investment, those borrowers will receive the best interest rates and latest mortgage programs.

On the other hand, non-warrantable condos are deemed more risky and may require more money down by the perspective homeowner. The non-warrantable condo owner may be subject to a higher interest rate as well.

We offer mortgages and refinancing on both warrantable and non warrantable condos.

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