Learn · loan programs
Condo loans (warrantable and non-warrantable)
How the building itself affects your loan, and what non-warrantable means.
What it is
For a condo, the lender reviews the building (the “project”) as well as you. A warrantable condo meets Fannie Mae or Freddie Mac project standards. A non-warrantable condo doesn’t, for reasons such as litigation, a lot of commercial space, one owner holding many units, hotel-style rentals or unrepaired critical issues.
Who it fits
How it works
- Conventional: the lender reviews the project against Fannie Mae or Freddie Mac standards (Fannie Mae Selling Guide B4-2.1).
- FHA: the project needs HUD approval, or a single-unit approval where allowed. VA: the project needs VA acceptance.
- Non-warrantable: some lenders offer portfolio or non-agency loans for these buildings, with their own down payment and pricing.
Benefits
- Knowing the building’s status early protects your deposit and timeline
- The Condo Clearance Check covers the five questions to ask
Tradeoffs
- Association documents and questionnaires take time and may cost money
- Special assessments and insurance costs affect what you can afford
Typical documents
- Your usual income and asset documents
- The association’s budget, questionnaire, insurance and, for 3+ story buildings, milestone inspection and SIRS information
Your lender may ask for more or less. Full list: 1-page document checklist (PDF).
Common myth: “If I qualify, any condo will work.” Not true: the building has to qualify for your loan type too.
Next: run the Condo Clearance Check or look up a building in the Florida Condo Hub.
Building questions? What makes a condo non-warrantable · Milestone inspections and SIRS.
Last checked October 17, 2026. Sources: Fannie Mae Selling Guide B4-2.1-01, condo project standards · Fannie Mae Selling Guide B4-2.1-03, ineligible projects · HUD FHA condominium approval search · VA condo report
Availability depends on the lender and program funding; ask me which ones I can use for your loan.
Want to know what fits you?
Tell me a little about your situation and I’ll walk you through the options.