At MortgageDepot, we perceive that securing financing for non-warrantable condos is usually a difficult course of. Conventional lenders typically shrink back from these properties as a consequence of their distinctive traits and potential dangers. Nonetheless, our Non-Warrantable Rental program is designed that can assist you navigate these challenges and save your deal. Listed here are among the key highlights of our program:
100% Investor Focus? No Drawback!
In contrast to conventional financing choices, our program permits for 100% investor focus. Which means even when all of the models within the apartment challenge are owned by buyers, we will nonetheless present the financing you want.
Pending Litigation? We’ve Received You Lined!
Pending litigation is usually a main roadblock for conventional lenders, however not for us. So long as the litigation just isn’t structurally associated, we will nonetheless transfer ahead together with your financing.
Single Entity Possession? No Worries!
Our program accommodates tasks the place as much as 30% of the models are owned by a single entity. This flexibility ensures that you just received’t miss out on alternatives as a consequence of possession focus.
Excessive Grasp Coverage Deductibles? That’s OK!
We perceive that some apartment tasks have excessive grasp coverage deductibles. Our program accepts deductibles as much as 10%, offering you with extra choices and peace of thoughts.
Business Area? Deliver It On!
Many apartment tasks embrace business areas, which is usually a deal-breaker for conventional lenders. Our program permits for as much as 50% business area, making it simpler so that you can safe financing.
No Price range Required? Completely!
One of the vital vital benefits of our Non-Warrantable Rental program is that no finances is required. This eliminates a typical hurdle and simplifies the financing course of.
At MortgageDepot, we’re dedicated to offering versatile and modern financing options to satisfy your distinctive wants. Our Non-Warrantable Rental program is only one instance of how we go above and past that can assist you save your deal. Contact us as we speak to be taught extra about how we will help you together with your non-warrantable apartment financing wants.