Non warrantable condos and mortgage approval

Categories: Mortgage

Is anybody currently going through the mortgage approval process for a new construction condo and experienced the non-warrantable issue with your lender? I understand what non-warrantable means, but I always thought that since ny new constructions condos are already highly regulated, that the non-warrantable issue doesn’t apply to ny condos?

Can anyone she’d some light on their experinces with this issue… Was your IR affected by the non warrantable issue? A mortgae brokers experience is welcome as well. Are the underwriters you are working with really tight with this issue?

By k91 | 07/09/2008 4:18 PM