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.
Know exactly what you can afford before you search for homes.
Today's Mortgage RatesOur 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.
