You’ve found the perfect condo. The location is ideal, the amenities are everything you hoped for, and your offer was just accepted. Then you get the call: your lender says the condo is “non-warrantable,” and your financing hits a wall.
At GO Mortgage, we understand that not every condo fits a conventional mold. That’s why we offer flexible mortgage solutions for non-warrantable condos, helping you move forward with confidence—even when traditional lenders say no.
Finance your condo with GO Mortgage.What is a non-warrantable condo?
A non-warrantable condo is a condominium that doesn’t meet the standard lending criteria set by Fannie Mae or Freddie Mac. These agencies buy most residential mortgages in the U.S., and they have strict requirements for condo projects.
If a property doesn’t comply, many lenders won’t finance it through conventional loan programs.
Fortunately, that doesn’t mean you’re out of options. GO Mortgage offers tailored loan programs designed to work around these guidelines, giving you the flexibility to buy the home you love.
Why would a condo be considered non-warrantable?
There are several reasons a condo project might fall into the non-warrantable category.
Common factors include:
- The homeowners association (HOA) is involved in ongoing litigation.
- More than 40% of the total square footage is used for commercial purposes.
- A single entity owns more than 10% of the units (or more than 20% for larger complexes).
- The HOA runs revenue-generating businesses, like spas or restaurants, within the complex.
- The project requires membership dues or club fees that are mandatory for residents.
These conditions raise red flags for conventional lenders because they increase the perceived risk of default or financial instability. But risk perception doesn’t always reflect the reality of the property, especially for qualified buyers like you.
Can I still finance a non-warrantable condo?
Yes! With GO Mortgage’s non-warrantable condo loan program, you can still move forward confidently. As part of our flexible loan lineup, this program is built specifically for borrowers purchasing condos that fall outside traditional guidelines.
We can finance properties that include up to two of the characteristics listed above, depending on your loan profile.
Whether you’re a first-time homebuyer, an investor, or purchasing a second home, we’re here to make your path to ownership smoother.
What are the key features of GO Mortgage’s non-warrantable condo loan?
Here’s what you can expect from our program:
- Fixed and adjustable-rate options available
- Interest-only payment option (where applicable)
- Loan-to-value (LTV) ratios up to 90%
- Loan amounts up to $2 million
- Full Doc, Bank Statement, Asset Resource, and Foreign National programs are accepted
- Eligible for purchase or refinance
- Available for primary residences, second homes, and investment properties
These flexible terms are designed to make your financing experience as seamless and straightforward as possible, even when the property doesn’t check all the conventional boxes.
Who might benefit from this loan?
Our non-warrantable condo loan is a great fit if you fall into one of these categories:
- Self-employed or business owners who need to qualify using alternative documentation
- Real estate investors purchasing mixed-use or commercial-heavy condo projects
- Buyers relocating to coastal or resort areas, where amenities like club memberships or on-site businesses are common
- Anyone purchasing a unique condo that other lenders have declined due to HOA structure or project status
Not sure if your condo is non-warrantable? Our team can review the HOA and property details early in the process to guide you through your best financing options.
Questions to ask your lender about condo eligibility
Before falling in love with a condo unit, be proactive. Here are a few questions to ask:
- Is this condo warrantable under Fannie Mae or Freddie Mac guidelines?
- Does the HOA have pending litigation or commercial space above 40%?
- Does one person or group own a large share of the units?
- Can I still get a competitive rate if I need a non-warrantable loan?
If any red flags come up, don’t panic—just get in touch with a GO Mortgage advisor, and we’ll walk you through the next steps.
What to expect during the approval process
While the underwriting process for a non-warrantable condo can involve a few extra steps, our team is experienced in navigating the details. We’ll:
- Reviewthe HOA documentation and project status
- Provide transparency on any limitations based on loan-to-value or credit score
- Offer alternate solutions if certain features disqualify the project from standard financing
It’s our job to handle the complex stuff so you can focus on getting into your new home.
Why non-warrantable doesn’t mean non-approvable
“Non-warrantable” sounds scary, but it’s really just mortgage lingo. It doesn’t mean the condo is a bad investment or that you’re making a risky purchase.
It simply means the property doesn’t meet certain predefined conditions, and you need a loan that looks beyond the checklist.
Our goal is to empower you with lending options that align with your homeownership goals. If the condo you love is non-warrantable, we’ll help you understand your choices clearly and confidently.
More homebuying guides to help you
- Buying and selling a home
- The need for preapproval
- What to understand about property lines
- Loan comparisons
Let’s make your condo purchase possible
Finding out your dream condo is non-warrantable doesn’t have to derail your plans.
With GO Mortgage, you have access to flexible financing solutions that open doors—even when traditional paths seem closed.
Whether you’re exploring your first purchase, planning to invest, or relocating to a unique property, we’re here to help.
Talk to a GO Mortgage advisor today to learn more about our non-warrantable condo loan program, and let’s find the right solution for your next move.
Disclaimers: Loan eligibility and approval are based on credit score, LTV, income, and loan purpose. Terms may vary. Subject to underwriting and property approval. This article is for informational purposes and does not constitute legal or financial advice.