Non warrantable? No problem.

Often, a condominium is considered non warrantable when phases of the condo development are not complete.

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

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

Non-Warrantable Condominium 90% LTV: *Interest rates as of November 6, 2020 and subject to change without notice. Annual percentage rates (APRs) based on an owner-occupied single family residence in Grand Rapids, Michigan with a loan amount of $150,000, credit score of 740 and down payment of 3% with tax and insurance escrows. The 30-year fixed rate APR is 2.800% and based on a note rate of 2.750% with zero points and $612.36 principal and interest payments. Payment amounts shown does not include taxes and insurance premiums. The actual payment amount will be greater. This is not a commitment to lend. All loans are subject to credit review and approval.