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posted: Jul. 11, 2013 @ 12:23p
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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