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