Non-Warrantable Condo Loans · MD & VA · Up to 85% LTV, $3 Million

Non-Warrantable Condo Loans in Maryland & Virginia, When Your Condo Doesn't Qualify for Conventional Financing.

Buying a condominium only to discover it doesn't qualify for conventional financing can be frustrating. At Fairway Home Mortgage, we help qualified buyers finance eligible non-warrantable condos throughout Maryland and Virginia using specialized lending solutions that go beyond traditional mortgage guidelines.

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Fast pre-approvals with complete docs Retired U.S. Navy veteran Fairway Home Mortgage NMLS #2656628

Ken Powell

Mortgage Loan Officer · Fairway Home Mortgage

NMLS #2656628 · Equal Housing Lender

What Is a Non-Warrantable Condo?

A condo that doesn't meet conventional guidelines, not necessarily a problem property.

Many excellent condos are non-warrantable.

A non-warrantable condominium is a condo project that does not meet the underwriting requirements established by conventional loan agencies like Fannie Mae or Freddie Mac. While many banks decline these loans, non-warrantable condos are often excellent properties located in highly desirable communities. They simply require a lender with access to more flexible financing options.

Common reasons a condominium may be considered non-warrantable:

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High investor concentration

A high percentage of investor-owned units within the project.

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Commercial space

Significant commercial or retail space within the building.

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Pending litigation

Pending litigation involving the condominium association.

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HOA deficiencies

HOA reserve or budget deficiencies flagged by lender review.

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New construction

New construction projects that haven't met presale requirements.

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Condo hotel characteristics

Condotel features or ownership concentration by one entity.

Financing Options

What Fairway Offers for Non-Warrantable Condominiums in Maryland.

Depending on your financial profile and the condominium project, financing may include:

✓Primary residence financing
✓Second home financing
✓Investment property loans
✓Loan amounts up to $3 million

✓Financing up to 85% Loan-to-Value (LTV)
✓Flexible underwriting for unique financial situations
✓Financing for self-employed borrowers
✓Individual condominium project reviews

Every condominium project receives an individual review to determine eligibility.

We Finance Condos Across Maryland & Virginia

Condo communities throughout Maryland and Virginia, including:

BaltimoreAnnapolisBethesdaRockvilleSilver SpringColumbiaFrederickGaithersburgTowsonEllicott CityOcean CityNational HarborBowieWaldorfBel AirSouthern MarylandPrince George's CountyAnne Arundel CountyCharles CountyCalvert CountySt. Mary's CountyNorthern VirginiaHampton Roads

Even if your community isn't listed, we may still be able to help. Contact Ken to discuss your specific condominium project.

FAQ

Non-Warrantable Condo Questions Answered.

Can I finance a non-warrantable condo in Maryland or Virginia?+

Yes. Many buyers successfully purchase non-warrantable condominiums using specialized mortgage programs designed for eligible projects. Every project receives an individual review, and terms depend on both the borrower's profile and the specific condo project.

Can I buy an investment condo that is non-warrantable?+

Yes. Financing may be available for investment properties, second homes, and primary residences depending on borrower qualifications and project eligibility.

Why was my condo declined by another lender?+

Most lenders are limited to Fannie Mae and Freddie Mac guidelines. Non-warrantable condos don't meet those guidelines, so many lenders simply say no rather than look further. Fairway has access to portfolio and non-QM programs that go beyond conventional guidelines, which is often the difference between a decline and an approval.

What is the maximum loan amount for a non-warrantable condo?+

Financing is available up to $3 million depending on the project and borrower profile. Some counties and project types support higher loan-to-value ratios than others, so the exact maximum for your situation depends on the specific condo.

What is the maximum loan-to-value for a non-warrantable condo?+

Up to 85% loan-to-value for qualifying borrowers and projects. Certain markets, including Baltimore County, and certain condo project types may have a lower maximum, so it's worth confirming your specific numbers before you write an offer.

Are condotels eligible?+

It depends on the specific program and the project's characteristics. Some condotel-style buildings qualify, others do not. This is one of the details checked during the individual project review rather than something that can be answered in general.

How do I know if my condo is warrantable or non-warrantable?+

I review the condominium project details during your pre-approval process. If you're under contract or considering a specific building, call me with the condo association name and I'll give you an initial assessment.