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*
Non-warrantable
Condos
* Condotels and High Rises
Owner occupied or 2nd homes only.*
2nd homes must be in resort or vacation area.
Rental income is allowed on 2nd homes but cannot
be used to qualify.
Reserve requirements are for all properties owned.
500k max loan amount and 30% down for condotels**.
3million max loan size for non-warrantable condos.
Standard LTVs are shown on our daily rate sheet.
Exceptions are made on a case by case basis.
All condos and condotels must have a full kitchen
and a separate bedroom.
All condos require a completed condo questionnaire
and must pass our underwriter review.
Please note we do not allow the following: blackout
dates, incomplete construction of the subject
phase, 33% or more delinquencies in the HOA, and
most pending litigation.
Immigrant / expatriate program eligible for condo
/ condotel financing.
* 50% down considered on a case by case basis
for investment property purchases
** Loan size exceptions to 3 million approved
with extremely strong clients.
Max DTI ratio is 40% * Underwriting
$695 Fee Doc Prep $150
Escrows Required - Escrows waived as an exception
with .25% fee
Self Employer must have 2 yrs. Business &
Personal Tax Returns including all schedules
Reserves - Min. 12 mths required up to $1,000,000;
24 mths required > $1,000,000
50% of Retirement used for reserves, but 3 mths
must be liquid
dan@dantheloanman.com
702.326.7469-NV
707-280-2534-CA
APPLY
NOW
(IMPORTANT: Be sure to select Dan Sherbondy as
your Loan Officer and complete the long app)
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