Want to buy a condo but it doesn’t meet agency condominium requirements? No worries. We have opportunities for non-warrantable condos to help you get home quicker.
NON-WARRANTABLE CONDO PROGRAM ELIGIBILITY
To qualify for the non-warrantable condo opportunities program, certain guidelines must be met, including:
- 30-year fixed and 30-year fixed with 10-year interest-only option
- Maximum loan amount: $3 million
- Minimum loan amount: $58,300
- Loan-to-value ratio (LTV): Up to 85%
- Cash-out permitted
- All occupancies permitted
- Each project approval may have up to two (2) risk factors
KEY FEATURES
Below are some of the condominiums covered by the non-warrantable program:
- Projects in litigation (cannot be related to safety, structural soundness, functional use, or habitability)
- Projects having mandatory dues or membership fees
- Single-entity ownership up to 40%
- Commercial or non-residential space above 40%
- 1–4 unit properties available
If you have questions about the non-warrantable condo opportunities program, connect with your trusted PrimeLending, a PlainsCapital Company® loan expert today.