FHA for non-warrantable Condo?

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Hi everyone,

I am in need of a cash out loan from my condo that is a non-warrantable condo. Does anyone know if FHA do this? Please let me know and many thanks in advance. =)

Best,

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No FHA does not do loans on a Non-Warrantable Condo. "Non-Warrantable" means that the units of the project are ineligible for Conventional and Government Financing because of certain reasons. Most commonly it is because of the Owner Occupied/Investor Ownership Mix of the Complex.

You are going to have to seek financing with a Bank/Broker that workes with Private Non-GSE lender that would be typical in the JUMBO marketplace or a portfolio bank loan.

Your search in my opinion may not be easy unless you are in a High Volume of Condos marketplace like Southern Florida or NYC.



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