At MortgageDepot, we understand that securing financing for non-warrantable condos can be a challenging process. Traditional lenders often shy away from these properties due to their unique characteristics and potential risks. However, our Non-Warrantable Condo program is designed to help you navigate these challenges and save your deal. Here are some of the key highlights of our program:
100% Investor Concentration? No Problem!
Unlike traditional financing options, our program allows for 100% investor concentration. This means that even if all the units in the condo project are owned by investors, we can still provide the financing you need.
Pending Litigation? We’ve Got You Covered!
Pending litigation can be a major roadblock for traditional lenders, but not for us. As long as the litigation is not structurally related, we can still move forward with your financing.
Single Entity Ownership? No Worries!
Our program accommodates projects where up to 30% of the units are owned by a single entity. This flexibility ensures that you won’t miss out on opportunities due to ownership concentration.
High Master Policy Deductibles? That’s OK!
We understand that some condo projects have high master policy deductibles. Our program accepts deductibles up to 10%, providing you with more options and peace of mind.
Commercial Space? Bring It On!
Many condo projects include commercial spaces, which can be a deal-breaker for traditional lenders. Our program allows for up to 50% commercial space, making it easier for you to secure financing.
No Budget Required? Absolutely!
One of the most significant advantages of our Non-Warrantable Condo program is that no budget is required. This eliminates a common hurdle and simplifies the financing process.
At MortgageDepot, we are committed to providing flexible and innovative financing solutions to meet your unique needs. Our Non-Warrantable Condo program is just one example of how we go above and beyond to help you save your deal. Contact us today to learn more about how we can assist you with your non-warrantable condo financing needs.