Non warrantable condo

Northpointe's Non-Warrantable Condo program offers financing options for borrowers interested in newer condo projects, including condotels, that may not meet conventional program requirements.

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
  • Project has hotel-like features or is a condotel
  • 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

Features:
  • Primary Residence, Second Home or Investment Property
  • Loan amounts from $75,000 up to $3,000,000
  • Fixed rate, adjustable-rate and Interest only options available
  • Loan-to-value up to 80%
  • Minimum credit score of 660
  • Options available to use either borrower income or rental income to qualify

A PDF flyer of this program is
available for download

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Investor product information is not intended for consumer distribution.