Financing a condominium has changed. Effective with loan applications dated August 3, 2026 or later, Fannie Mae retired its Limited Review process for condominium projects. This means many condo transactions that previously qualified through the Limited Review process may now require a Full Review or another eligible project-review method.

For condo buyers, owners, real estate investors, and Realtors, this can create financing challenges when a condominium association does not meet conventional agency project requirements. A borrower may have excellent credit, sufficient income, and strong assets, but the condo project itself can still prevent the loan from qualifying under standard Fannie Mae guidelines. Fortunately, we have an excellent solution.

JZ Mortgage now offers a Conventional Non-Warrantable Condo Program with financing up to 90% loan-to-value (LTV) for eligible borrowers and properties.

What Is a Non-Warrantable Condo?

A non-warrantable condo is generally a condominium located within a project that does not satisfy certain eligibility requirements established by Fannie Mae or Freddie Mac. The issue is often related to the condominium association or project rather than the individual borrower or unit.

Condo project reviews can evaluate factors such as the association's financial condition and reserves, insurance, deferred maintenance or critical repairs, litigation, ownership characteristics, and other project-level requirements.

When a condo does not satisfy applicable agency requirements, many traditional lenders may be unable to approve financing. This is where working with a mortgage broker with access to additional lending options can make a significant difference.

A New Financing Solution for Non-Warrantable Condos

At JZ Mortgage, we specialize in finding solutions for properties and borrowers that don't always fit inside the traditional lending box. Our Conventional Non-Warrantable Condo Program provides another option for qualified borrowers purchasing or refinancing condos that may not meet standard Fannie Mae or Freddie Mac project guidelines.

Program highlights include:

• Up to 90% LTV for purchases and rate-and-term refinances

• Up to 80% LTV for cash-out refinances

• Up to 80% LTV for investment properties

• Conventional, Jumbo, and Non-QM options available

• HOA budget reserves below 10% acceptable

All loans remain subject to applicable underwriting, borrower, property, condo project, and investor requirements.

Less Than 10% HOA Budget Reserves? We May Still Have an Option.

One issue that can prevent a condominium from satisfying standard agency requirements is the HOA's reserve funding. Fannie Mae's updated condo project standards place significant attention on the financial health of condominium associations, including reserves for capital expenditures and the ability of an association to address maintenance and unexpected expenses. Fannie Mae requires a 10% reserve budget. For eligible transactions through our Non-Warrantable Condo Program, we only require a 3% budget or a sufficient reserve study if less than 3%. This provides an important solution for borrowers to qualify for a conventional loan with a non-warrantable condo.

More Options Can Mean More Opportunities

Condo financing can be complicated, especially in Florida. The key is identifying potential condo eligibility issues as early in the transaction as possible and matching the borrower and property with the appropriate financing program.

JZ Mortgage works with more than 100 wholesale lending partners, giving our experienced mortgage professionals access to Conventional, Jumbo, Non-QM, investor, and other specialized financing solutions.
For Realtors, this can also mean another opportunity to save a condo transaction that might otherwise fall apart because the project doesn't qualify with the buyer's original lender. Instead of assuming a non-warrantable condo cannot be financed, let our team review the scenario and determine what options may be available.

Need Financing for a Non-Warrantable Condo?

If you're buying, refinancing, or investing in a condo and have been told the project is non-warrantable, don't assume that means you can't get financing.

JZ Mortgage has solutions — including eligible Conventional Non-Warrantable Condo financing up to 90% LTV.

Our experienced mortgage professionals can review the borrower, property, and condominium project to help determine which financing options may work for your situation.

Contact JZ Mortgage today for a free consultation or get started with a fast and easy pre-approval.

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