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Warrantable Condo Mortgages
Welcome to Bennett Capital Partners, NMLS# 2046862 your one-stop-shop for all your condo financing needs. Our loan programs are designed to cater to a wide range of borrowers, including Conventional mortgages, Non-QM mortgages, Foreign National mortgages, First Time Homebuyer programs, Jumbo mortgages, Condominium Loans, Hard Money mortgages, Condo-Tels, FHA mortgages, Bank Statement Programs, Non-Warrantable Condos, Private Lending, Warrantable Condo Mortgages, and Condominium Mortgages.
Our Warrantable Condo Mortgage program is designed to help condo buyers secure financing for their primary residence, second home, or investment property. You can learn more about this program on our website at Warrantable Condo Mortgages.
If you're interested in purchasing a condo, but it doesn't meet the requirements for a warrantable condo, don't worry! We also offer Non-Warrantable Condo Mortgages. You can learn more about this program on our website at Non-Warrantable Condo Mortgages.
Whether you're looking for a conventional mortgage, a private lending option, or a bank statement program, we've got you covered. Check out our website at Loan Programs to learn more about our other programs.
We're committed to helping our clients find the best possible financing options for their condo purchase. Contact us today to get started on your condo financing journey!
Warrantable Condo Mortgage FAQ's
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Warrantable Condo Programs
Discover helpful tips and tricks on mortgages by reading our blog posts:
Understanding Fannie Mae Condo Guidelines: A Comprehensive Guide To Learn More about Fannie Mae condo guidelines.
Condo Loans: Everything You Need To Know to learn more about how this program can help you purchase your dream condo in Miami.
A Deep Dive into Fannie Mae's Condo Project Review Process: To learn more about Fannie Mae project reviews.
How To Get The Best Mortgage Rates In Florida to how to get the best mortgage rates.
Warrantable Condo Mortgages FAQ
What is a Warrantable condo?
A warrantable condo is a type of condominium that meets specific guidelines set by Fannie Mae and Freddie Mac, which makes it eligible for conventional financing.
What are the eligibility criteria for a Warrantable Condo?
The eligibility criteria for a warrantable condo include:
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The condo must be a legal and established project
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At least 51% of the units must be owner-occupied or sold to owners who intend to occupy the units
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No more than 15% of the units can be delinquent in HOA fees
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No more than 10% of the units can be owned by a single entity
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The HOA must maintain adequate insurance coverage
What is a Warrantable Condo Mortgage?
A warrantable condo mortgage is a type of mortgage loan that is used to purchase a warrantable condominium. This type of mortgage follows the guidelines set by Fannie Mae and Freddie Mac and is eligible for conventional financing.
What are the benefits of a Warrantable Condo Mortgage?
The benefits of a warrantable condo mortgage include:
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Lower interest rates compared to non-warrantable condo mortgages
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More lenient lending requirements
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Access to conventional financing options
Can a Warrantable Condo be non-owner occupied?
Yes, a warrantable condo can be non-owner occupied, but no more than 49% of the units can be occupied by renters.