10/09/2026
Buying a condo? There’s more to review than your credit and income.
The lender also looks at the condo community’s finances, insurance, condition, and other project requirements.
You may hear the terms “warrantable” and “non-warrantable.” A warrantable condo generally meets Fannie Mae or Freddie Mac project requirements. A non-warrantable condo falls outside those requirements, which can limit mortgage options.
The key is understanding WHY.
Insurance concerns, certain legal disputes, ownership concentration, or significant repairs can affect financing. Specialty loans may be available, but terms vary, and some project issues can prevent financing.
After 25 years in residential mortgage lending, my advice is to start the condo financing conversation early. Ask about association dues, reserves, special assessments, and planned repairs—and have your mortgage advisor review the project as early as possible.
Buying in Texas or Florida? Let’s talk through your condo financing questions so you can move forward with a clearer picture.
