Non-Warrantable Condo & Co Op
These programs allow buyers to finance condos and co-ops that traditional lenders may decline due to building or ownership characteristics. In markets like New York City, non-warrantable buildings are common - making specialized financing essential.
What Makes a Property Non-Warrantable?
A condo or co-op may be considered non-warrantable if:
- A single entity owns a large percentage of the units
- The building has high investor concentration
- There is ongoing litigation involving the building
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Commercial space exceeds guideline limits
- The building has insufficient reserves
- The building is newly constructed or partially sold
Who Are These Programs For?These loans are ideal for:Buyers purchasing in NYC co-ops or condosInvestors buying in mixed-use buildingsPurchasers of unique or boutique buildingsBorrowers with strong finances purchasing in complex properties
Key BenefitsFinancing available for non-warrantable condos and co-opsOptions for primary residences, second homes, and investmentsMore flexible building approval guidelinesHigher loan limits compared to traditional programsAvailable for purchases and refinances
What to Expect Non-warrantable loans often have different rates, down payment requirements, and terms compared to standard conforming loans. However, they open doors to properties that would otherwise require all-cash purchases.
