How it works
A non-warrantable condo is one that falls outside Fannie Mae or Freddie Mac project standards — high investor concentration, pending litigation, low reserves, commercial space ratios or single-entity ownership. Agency financing stops there; portfolio and Non-QM financing often does not.
What defines this program
- Portfolio and Non-QM project pathways
- Litigation and reserve issues evaluated case by case
- Common in resort and high-rise markets
Common fits
Questions borrowers ask
Does non-warrantable mean the condo is a bad buy?
Not at all. Many desirable resort and urban buildings are non-warrantable purely because of investor ratios or short-term rental activity. It is a financing classification, not a quality judgment.
Who are non-warrantable condo financing usually a good fit for?
Most often resort condo buyers, high-rise and mixed-use buildings, investor-heavy projects. That list isn't a rule, though — plenty of files land here for reasons that don't show up on a bullet point, so it's worth asking even if you don't see yourself on it.
What should I have ready before we talk about non-warrantable condo financing?
Nothing formal. Tell me the property type and where it is, whether it's a purchase or refinance, how you're paid, and roughly what you're working with for down payment or equity. That's enough for me to tell you which direction actually makes sense before you pull documents together.
What will my terms look like?
Pricing, structure and qualifying guidelines vary by lender, property, occupancy and your full financial picture — and they change often. Rather than publish numbers that may not apply to you, I review your scenario directly and walk you through the real options available for it.
This page intentionally avoids quoting rates, down payments, credit-score minimums or underwriting requirements. Guidelines differ by lender, property type, occupancy and borrower profile — and they change. April Ramker reviews your scenario and tells you what applies to it.