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Non-Warrantable Condos

Bayview Non-Warrantable Condominiums

Call us at 85-Lakeview (855-253-8439) to learn more about our loan programs and products

We offer condominium project warranty requirements for established projects that may be less restrictive then standard agency guidelines including, but not limited to the following:

  1. Max 70% LTV on all non-warrantable condo portfolio loans
  2. 60% of the total units must be sold or under contract (pending sales may be included to meet the 60% requirement)
  3. Single entity ownership – allows up to 20% of the total units to be owned by one single entity
  4. Condotels – Considered on a case by case basis (project must be residential in nature)
  5. Budget- 10% reserve allocation not needed  if current reserve balance exceeds 20% of operating expenses
  6. Delinquency – no more than 25% of the unit owners may be more than 30 days delinquent
  7. Delinquency requirement can be waived if current reserve balance exceeds 20% of operating expenses
  8. Commercial influence – No defined maximum commercial influence.  Appraiser must confirm common and customary to the market and no adverse impact on the marketability as a residential project.
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