Non-conforming condominium

Often, a condominium is considered non-conforming when phases of the condominium development are not complete. Contact your Northpointe loan advisor for all the details on financing options for this type of condo.

Reasons a condominium might be considered non-conforming:

  • 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