20% Down

Financing a non-warrantable condo typically requires at least 20% down. These condos don’t meet conventional loan guidelines set by Fannie Mae or Freddie Mac—often due to issues like high investor ownership, ongoing litigation, or inadequate reserves in the HOA.

Private Mortgage Insurance

Since these properties aren’t eligible for conventional financing, you’ll need to work with a lender that offers portfolio or non-QM (non-qualified mortgage) loans. These come with stricter requirements, higher interest rates, and less flexible terms than standard loans.

Loan Size

There are no specific price caps for non-warrantable condo loans, but large loan amounts could push the financing into jumbo territory—triggering even more stringent underwriting requirements.

Credit Score & DTI

Borrowers generally need a credit score of 680 or higher, though some lenders may require 700+. Your debt-to-income (DTI) ratio should typically be under 43%, and you’ll need to show stable income and strong reserves. Expect your lender to review all HOA documents, including budgets and meeting minutes, before issuing approval.