madisonmortgage
If you dream of buying a condo, whether as your main home or a second property, you might expect the process to be as simple as buying a single-family home. And most of the time, this will be the case if the condo is warrantable.
But if the condo isn’t considered warrantable, things will be more difficult. So what is a non-warrantable condo, and how does it differ from a warrantable one?
Condos are considered to be a greater risk to lenders, so they have stricter requirements when funding purchases. If the condo is non-warrantable you will find it more difficult to get a home loan.
We look at non-warrantable condos vs warrantable condos and how this could affect your financing.
