Program guide
What to know before you choose
Condo financing involves more than the unit you are purchasing. A lender also evaluates the condominium association and project. A project may fall outside standard agency requirements because of its ownership mix, commercial space, rental operations, insurance, litigation, or other project characteristics. The specific reason matters; not every issue has the same financing solution.
Non-warrantable does not automatically mean a condo is unsafe or a poor purchase. It also does not mean financing is guaranteed. Our team needs to understand the project, supporting documents, intended occupancy, and your financial profile before identifying an available program.
For a Gulf Coast condo, discuss short-term rental plans and any hotel-like operations early. Financing a personal second home differs from financing a business-purpose rental. DSCR may be worth comparing for an eligible investment property, but it does not remove the need for property and project review.
Ask Bo what questions to bring to the seller or association. Your loan officer will specify the documentation needed through an approved secure channel and explain the tradeoffs before you move toward prequalification.