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February 2014

Found 1 blog entry for February 2014.

living room in a condo with leather furniture

When purchasing a condo, it’s best to know as early as possible whether the development is warrantable or non-warrantable. As a potential buyer, it’s important to understand what this means, and how it affects you.Knowing whether or not the development in question is warrantable provides insight into the development, neighborhood, and HOA. So, let’s get to the definitions!

A non-warrantable condo is a condominium property in which the loan is not eligible to be sold to Freddie Mac or Fannie Mae, and as such, they are considered by most banks to be more “risky.” Freddie Mac and Fannie Mae have established criteria when it comes to evaluating condominium developments. Conversely, a warrantable condo loan can be sold to Freddie Mac or Fannie Mae. Many times,

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