Non-Warrantable Condo: Financing Challenges for Condos
Have you just heard about this type of condo and are wondering what it means and how it works? Understanding Non-Warrantable Condos and their financing challenges is crucial when purchasing a condominium. Non-warrantable condos fail to meet requirements set by agencies like Fannie Mae, Freddie Mac, and the FHA. Factors that make a condo non-warrantable include incomplete projects, short-term rentals, and developer control. Usually, more than 50 percent of the condos must be owner-occupied in ...| Maximum Real Estate Exposure
