Bluestar Mortgage of Schaumburg, is the trusted choice for Non-Warrantable Condo Loans. Give us a call at 847-230-4030 to speak with a FHA loan expert who can assist you in determining if a Non-Warrantable Condo loan is the right option for you. You can also click on the schedule a free consultation button above.
Living in a condominium can be an excellent choice for varied reasons. It can be a good option in property ownership without stressing your home’s exterior maintenance. It may also be economical to reside in a city or even a hot spot vacation without purchasing an entire house.
What causes a condo unit non-warrantable?
A condo unit is deemed non-warrantable when it does not meet the traditional guidelines and will not be purchased by government-supported individuals like Fannie Mae and Freddie Mac. Thus, it may be challenging to look for funding since major lenders find an increased risk to finance a loan for this kind of property.
Certain companies may have their own set of standards to find out of it is non-warrantable or warrantable, but in general, below are the causes for a condo unit to be considered non-warrantable:
It may be challenging to look for reasonable financing for a non-warrantable condo unit. But you can team up with loan experts to attain your dream of acquiring a condo unit. They will provide options and solutions to finance the loan you want for that perfect condo unit without the hassles and stress.
If you are interested in a Non-Warrantable condo loan, call us at: 847-230-4030 to speak with a Non-Warrantable condo loan expert who can assist you in determining if a Non-Warrantable Condo loan is the right option for you.