At MortgageDepot, we perceive that securing financing for non-warrantable condos generally is a difficult course of. Conventional lenders typically draw back from these properties as a result of their distinctive traits and potential dangers. Nonetheless, our Non-Warrantable Condominium program is designed that will help you navigate these challenges and save your deal. Listed here are a few of the key highlights of our program:
100% Investor Focus? No Downside!
In contrast to conventional financing choices, our program permits for 100% investor focus. Which means that even when all of the models within the rental mission are owned by traders, we are able to nonetheless present the financing you want.
Pending Litigation? We’ve Received You Lined!
Pending litigation generally is a main roadblock for conventional lenders, however not for us. So long as the litigation shouldn’t be structurally associated, we are able to nonetheless transfer ahead together with your financing.
Single Entity Possession? No Worries!
Our program accommodates initiatives the place as much as 30% of the models are owned by a single entity. This flexibility ensures that you just gained’t miss out on alternatives as a result of possession focus.
Excessive Grasp Coverage Deductibles? That’s OK!
We perceive that some rental initiatives have excessive grasp coverage deductibles. Our program accepts deductibles as much as 10%, offering you with extra choices and peace of thoughts.
Business Area? Convey It On!
Many rental initiatives embrace business areas, which generally is a deal-breaker for conventional lenders. Our program permits for as much as 50% business area, making it simpler so that you can safe financing.
No Finances Required? Completely!
One of the vital important benefits of our Non-Warrantable Condominium program is that no funds is required. This eliminates a typical hurdle and simplifies the financing course of.
At MortgageDepot, we’re dedicated to offering versatile and progressive financing options to fulfill your distinctive wants. Our Non-Warrantable Condominium program is only one instance of how we go above and past that will help you save your deal. Contact us at present to be taught extra about how we are able to help you together with your non-warrantable rental financing wants.
