If you are shopping for a condominium in Phoenix or elsewhere in Arizona, you will need a condominium loan. Mortgage requirements for condos are different than those for regular houses, especially if you are trying to finance a non-warrantable condominium.
What are Non-Warrantable Condominiums?
Condos can be considered warrantable or non-warrantable by Fannie Mae and Freddie Mac.
If a condo is warrantable, it can be relatively easy to finance with a conforming mortgage.
Financing can be more complex if you need to purchase a non-warrantable condominium.
What types of condos are non-warrantable? Commonly, examples include timeshares, multi-unit condominiums, condotels, and similar projects.
If you do not know whether the property you are interested in is warrantable or non-warrantable, we can let you know during your consultation.
Our Condo Loan Features
At Desert Springs Mortgage, we can help you finance the purchase of a warrantable or non-warrantable condo. We can also help you refinance either.
Here are some of the advantages of our condominium loans:
- We offer affordable rates even for non-warrantable condominiums. We are able to do this because of our large network of lenders throughout Arizona and the other states we serve.
- Our easy, relaxed guidelines help you to qualify quickly and simply for the financing you need, facilitating rapid purchase.
- We can close as little as 30 days.
- Our low down payment options make for flexible financing ideal for a wide range of financial situation.
- Because we finance non-warrantable condos, even if a project is under litigation, we can help you purchase it.
Apply for a Condo Loan in AZ Now
If you are ready to buy a non-warrantable condo the easy way, please give us a call today at (623) 432-1309 to schedule your consultation. We can help you purchase a condominium in Arizona, California, Colorado, Oregon or Washington.