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Non-Warrantable Condo Loan

NASB may be able to help you with a non-warrantable condo loan If the condo you want to purchase doesn't meet conventional loan guidelines.



Call us 855-921-4921 

Key Features

Purchase or refinance

Looks at 1099 income

Flexible qualifying criteria


When your condo doesn't meet conventional loan requirements.

Condominiums can be flagged as non-warrantable for any number of reasons-the project has yet to be completed, too many units are occupied by non-owners, one person or entity owns more than 10% of the total number of units, or the developer has not turned over control of the HOA to the owners. Whatever the reason, when this happens, getting a loan to purchase a condo on this property can be very difficult. NASB is a mortgage leader for providing non-QM loans like non-warrantable condo loans. We understand that not all borrowers can get a conventional loan, and work with them to get the financing they need quickly and efficiently.
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Non-Warrantable Condo Loan Requirements 


  • The last six months of 1099 income, less if 1099 income is from most recent employer.
  • Documentation of year-to-date income
  • 680 minimum credit score
  • Minimum 15% down with mortgage insurance approval
  • Available as 30-year fixed or 5/1 adjustable rate mortgage


Non-Warrantable Condo Loan FAQs

A non-warrantable condo loan is what borrowers seek to purchase a condo when it doesn't meet conventional loan requirement and cannot be approved by government-backed entities like Fannie Mae and Freddie Mac. 

There are a number of factors that can contribute to a condo being tagged as non-warrantable, including:

  • Ownership requires a membership, like a golf club.
  • The project is new construction and not completed yet.
  • One person or entity owns more than 10% of the total number of units.
  • The condo allows for the majority of the units to be rentals and/or short-term rental units.
  • The condo developer hasn’t ceded control of the owner’s association yet.
  • More than 25% of the units in development will be used commercially.
  • There is litigation of any kind tied to the project.

Non-warrantable condo loan requirements include:

  • A minimum credit score of 680
  • Last two years of verifiable income, including W-2s and tax returns
  • A debt-to-income ratio (DTI) of no more than 45%
  • A loan term of 30 years or less
  • Points and fees cannot exceed 3% of the loan amount




What Our Customers Say
Joshua S., April 28, 2021
★★★★★ (5)

"Everyone at NASB was great to work with! They made a complicated process simple and easy to understand."

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*According to Bain and Company, the source of the Net Promotor Score (‘NPS’) system, a score of 50 is excellent, and anything above 80 is world-class.