Warrantable and non-warrantable Condos
Purchasing a non-warrantable condo is a tricky and complicated process. In fact, most Realtors don’t know what warrantability is or how it works. Many conventional lenders do not have non-warrantable finance options. The problem is, there are a lot of non-warrantable condos in Austin.
To put it simply, a warrantable condo meets the lending criteria established by Fannie Mae and Freddie Mac and has several financing options available. A non-warrantable condo does not meet Fannie Mae, Freddie Mac, VA, or FHA established criteria. Financing options are limited.