Residential
Non-Warrantable Condo
Unlock your dream of owning a condo with CMRE's Non-Warrantable Condo program. We offer flexible financing options for condos that don't meet traditional warrantability requirements, with rates starting at 6.875%. Get pre-approved today and take the first step towards condo ownership.
Program Benefits
Access financing for non-warrantable condos that may be excluded by other lenders.
Competitive rates, starting at 6.875%, tailored to your financial situation.
Lower down payment options available, with LTVs up to 97%.
Streamlined application process for quick approvals.
Expert guidance from our experienced mortgage specialists.
Ideal for investors or those seeking unique condo properties.
Program Highlights
Max LTV
97%
Min Credit Score
620
Max DTI
55%
Loan Amount Range
$75K - $2M
Amortization Options
Eligible Properties
- Condo
Program Requirements
Income Documentation
- •Stable and verifiable income history required.
- •Acceptable debt-to-income ratio (DTI).
- •Proof of income documentation (pay stubs, tax returns, etc.).
Asset Verification
- •Sufficient assets for down payment and closing costs.
- •Verification of funds through bank statements.
- •Reserves may be required depending on loan amount and risk profile.
Insurance & Title
- •Hazard insurance coverage required.
- •Flood insurance may be required depending on the property location.
- •Condo association insurance verification.
Property Requirements
- •Minimum FICO score of 620 required.
- •Review of credit history to assess risk.
- •Explanation for any derogatory credit events.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
A condo is considered non-warrantable if it doesn't meet the standard requirements set by Fannie Mae or Freddie Mac. Common reasons include a high percentage of renters, pending litigation, or financial instability of the HOA.
Yes, typically the interest rate is slightly higher to compensate for the increased risk associated with non-warrantable properties. However, CMRE strives to offer competitive rates, starting at 6.875%.
The minimum down payment can vary depending on the lender and the specific property. With CMRE, LTVs up to 97% are possible, allowing for a lower down payment.
Non-warrantable condos can present unique investment opportunities or provide access to desirable locations or amenities that may not be available with warrantable properties. They often come at a lower price point, offering excellent value.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
