Requirements for Non-Warrantable Condos

Non-Warrantable Condos

Occupancy	LTV/CLTV	FICO	DTI	Transaction Type
Owner Occupied	80%/80%	660 Minimum	45% Maximum	Purchase, R&T Cash-Out
2nd Home (Vacation Home)	75%/75%	660 Minimum	45% Maximum	Purchase, R&T Cash-Out

(Investment properties are entertained case by case; maximum LTV/CLTV 65% - Requires reviewing of all condominium project documents to grant exception)

Litigation OK!

High Investment Property Concentration OK!

High Delinquency HOA Default Ratio OK!

Non-occupying co-borrowers OK!

·      NO SHORT-TERM RENTALS

·      NO NEW PROJECTS (ESTABLISHED PROJECTS ONLY)

·      NO LOFTS

·      NO ENTITY MAY OWN MORE THAN 10% OF PROJECT

(Exceptions granted if project is large)

·      $417,000.00 MAXIMUM LOAN AMOUNT

(Exceptions granted case by case)

Contact me today for assistance on getting difficult condo projects funded.

Thank you very much for your business and have an amazing day.

Michelle Morris & Melissa Howell

Michelle: 619-850-3600 Email: Michelle@sdfunding.com

Melissa: 619-818-1263 Emails: MelissaH@sdfunding.com                           

NMLS 264030   CalBRE 01238196

NMLS 264026   CalBRE 01477506