Nowadays, it is nearly impossible to obtain a home loan for a non-warrantable condo. The reason: those loans cannot be sold to Fannie Mae or Freddie Mac.
Due to the higher risk, most lenders will not consider these loan scenarios. Tidewater Home Funding has an investor (bank) with a mortgage product for non-warrantable condos with competitive prices.
Here are the guidelines:
Occupancy: Primary residence only
LTV Max: 75%
Credit Score Min: 700
Reserves: 2 months PITI
Seller/Builder Contribution: 6%
If you have a listing or a buyer interested in a non-warrentable condos, this loan product might be a great option.