At MortgageDepot, we perceive that securing financing for non-warrantable condos generally is a difficult course of. Conventional lenders usually draw back from these properties attributable to their distinctive traits and potential dangers. Nevertheless, our Non-Warrantable Apartment program is designed that can assist you navigate these challenges and save your deal. Listed here are a few of the key highlights of our program:
100% Investor Focus? No Downside!
In contrast to conventional financing choices, our program permits for 100% investor focus. Because of this even when all of the models within the condominium undertaking are owned by buyers, we are able to nonetheless present the financing you want.
Pending Litigation? We’ve Bought You Lined!
Pending litigation generally is a main roadblock for conventional lenders, however not for us. So long as the litigation will not be structurally associated, we are able to nonetheless transfer ahead together with your financing.
Single Entity Possession? No Worries!
Our program accommodates initiatives the place as much as 30% of the models are owned by a single entity. This flexibility ensures that you simply received’t miss out on alternatives attributable to possession focus.
Excessive Grasp Coverage Deductibles? That’s OK!
We perceive that some condominium initiatives have excessive grasp coverage deductibles. Our program accepts deductibles as much as 10%, offering you with extra choices and peace of thoughts.
Industrial Area? Convey It On!
Many condominium initiatives embody industrial areas, which generally is a deal-breaker for conventional lenders. Our program permits for as much as 50% industrial area, making it simpler so that you can safe financing.
No Funds Required? Completely!
Probably the most important benefits of our Non-Warrantable Apartment program is that no price range is required. This eliminates a typical hurdle and simplifies the financing course of.
At MortgageDepot, we’re dedicated to offering versatile and modern financing options to satisfy your distinctive wants. Our Non-Warrantable Apartment program is only one instance of how we go above and past that can assist you save your deal. Contact us as we speak to be taught extra about how we are able to help you together with your non-warrantable condominium financing wants.