Mortgage Navigator • Specialty Property
Non-Warrantable Condo Financing
A condo can fail an agency project review even when the individual unit and borrower look strong.
Why projects can fail
Agency issues can include hotel/transient characteristics, commercial space, ownership structure, critical repairs, inadequate insurance, litigation, single-entity concentration and other project-level concerns. The exact reason matters because private investors may price and accept those risks differently.
Get the diagnosis
Collect the HOA questionnaire, budget, insurance, litigation information and available project documents. “Non-warrantable” is a category, not a diagnosis.
“Not agency eligible” does not always mean “not financeable.” It may mean the property falls outside a particular agency, condo-project, appraisal, or lender matrix. Private-investor and portfolio options can differ. Specialty financing is never guaranteed: property, valuation, title, insurance, zoning, occupancy, loan purpose and investor rules still control.
Agency reference points
Fannie general · Fannie special · Fannie condo · Fannie mixed · Freddie condo. These are agency reference points, not universal private-investor rules.