Non-warrantable Condos, Condotels and Co-ops Program

Borrowers can encounter unique challenges when financing non-warrantable condos and condotels or condo hotels. Our team of experienced mortgage professionals are here to help you meet your client’s needs and are dedicated to making the transaction a smooth and seamless buying experience.

Non-Warrantable and Co-op Overview:

  • All non-warrantable issues considered
    • High investor concentration
    • Large, single entity ownership
    • High commercial percentage
    • Small projects with no HOAs
    • Condo conversions
    • New developments
  • Max 80% LTV (primary or second home)
  • Max 60% LTV (investment properties)
  • Maximum loan amounts up to $3,000,000 (LTV limits apply)
  • Cash-out refinancing available with unlimited cash in hand

Condotel Overview:

  • Max 75% LTV (primary or 2nd home)
  • Max 60% LTV (investment properties)
  • Cash-out refinancing available with unlimited cash in hand
Program Details
Lending Area Available in all 50 states
Second Home Provisions Second home (typically must be in a vacation or resort area and 30 miles from primary residence or used as college housing for enrolled dependent within 5 miles of campus)
Condo/Co-op LTV limits

80% primary or second home

60% investment property

Condotel LTV limits

75% primary or second home

60% investment property

Maximum Loan Size $3 MM
Unit Requirements

500 square foot minimum with a full kitchen and separate bedroom. Studio or efficiency units consdiered on a case by case basis.

Document Requirements

All Condos, Co-ops and Condotels require a completed Advancial Project Questionnaire1 and must pass our underwriter review

Work Visa/ Expatriate/ Immigrant Eligibility

Yes. See Expatriate Visa Program sheet for details.

Asset Depletion

Yes. See Asset Depletion Program for details.

Gifted down payment / Gifted Reserves / Gift of Equity Yes
Non-Occupant Co-Borrowers

Allowed at max 75% LTV including cash-out refinance.See Guidelines for details.

Foreign National Eligibility

(Non-U.S. Residents)

Yes. See Foreign National Program sheet for details.


Please note we do not allow the following: blackout dates, incomplete construction of the subject phase or pending litigation that implies structural deficiencies.2

1 Advancial questionnaires MUST be filled out completely with no question answered N/A, Unknown or left blank
2 Litigation considered on a case-by-case basis.