As a leading mortgage broker in financing non-warrantable condos, we are constantly looking for ways to finance non-warrantable condos. Below are clarifications from our lenders concerning a single entity owning more than one condo unit in the same condo complex.
A single Entity, investor group, partnership or Corporation CANNOT exceed the following:
- 2-4 units: One unit
- 5-20 units: Two units
- 21 or more units: 25%
The following are excluded from the Single Investor calculation:
- Vacant units being actively marketed by the Developer
- Affordable housing units owned by a Non-profit or controls
- Units held in affordable housing programs
- Units retained for workforce housing by Colleges
If you are looking to get some questions answered on financing non-warrantable condos, contact our office and speak to one of our loan consultants who can help with financing your project.