Non-Warrantable Condos and Condotels

Unique Challenges, Unique Solutions

Advancial is here to help with the unique challenges of financing a non-warrantable condo and condotels. Our team of experienced mortgage professionals will help you meet your client’s needs and are dedicated to making the transaction a smooth and seamless buying experience.

Non-Warrantable Condo Overview: All non-warrantable issues considered
Small projects with no HOAs	Condo conversions
High investor concentration	New developments
Large, single-entity ownership	Max 80% LTV (primary or second home)
High commercial percentage	Max 75% LTV (investment properties)
Cash-out refinancing available with unlimited cash in hand	Maximum loan amounts up to $5MM (LTV limits apply)

Condotel Overview:

Max 75% LTV (primary or 2nd home)
Max 75% LTV (investment properties)
Cash-out refinancing available with unlimited cash in hand

Program Details
Lending Area	Available in all 50 states
Second Home Provisions	Second home (typically must be in a vacation or resort area and 30 miles from primary residence or used as college housing for enrolled dependent within 5 miles of campus)
Condo/Co-op LTV limits	80% primary or second home 75% investment property Units with less than 500 square feet considered up to 70% LTV
Condotel LTV limits	75% primary or second home 75% investment property Units with less than 500 square feet considered up to 70% LTV
Maximum Loan Size	$5MM
Document Requirements	All Condos, co-ops and condotels require a completed Advancial Project Questionnaire¹ and must pass our underwriter review
Work Visa / Expatriate / Immigrant Eligibility	Yes See Expatriate Visa Program sheet for details.
Asset Depletion	Yes See Asset Depletion Program for details.
Gifted down payment / Gifted Reserves / Gift of Equity	Yes
Non-Occupant Co-Borrowers	Allowed at max 75% LTV, including cash-out refinance See Guidelines for details.
Foreign National Eligibility (Non-U.S. Residents)	Yes See Foreign National Program sheet for details.
Gifted down payment / Gifted Reserves / Gift of Equity	Yes
Please note that we do not allow the following: incomplete construction of the subject phase or pending litigation that implies structural deficiencies. Litigation considered on a case-by-case basis. 1. Advancial questionnaires MUST be filled out completely with no question answered N/A, Unknown or left blank.