Your Non-QM Solution for Non-Warrantable Condos

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LIMITED VS FULL REVIEW AT-A-GLANCE

A&D Mortgage offers a range of financing solutions for new and established non-warrantable condominiums for borrowers who don’t meet Fannie Mae’s requirements.

LIMITED VS FULL REVIEW AT-A-GLANCE

Eligibility Requirements	Limited Review	Full Review
Owner Occupied LTV	≤90% (≤75% in FL)	≤90%
Second Home LTV	≤75% (≤70% in FL)	≤85%
Non-Owner-Occupied LTV	≤75% (≤70% in FL)	≤85%
Construction 100% complete	✅	✅
75% of total units sold	✅	✅
Not operated as a hotel, motel or resort	✅	✅
No mandatory membership fees	✅	✅
Commercial space up to 35%	✅	✅
Single entity owns not more than 20% (projects with 2 to 4 units – 1 unit)	✅	✅
Capital reserves budget cap	None	8%
Allowable maximum of investment properties	None	75%
HOA dues cap	None	15%
Maximum HOA income allowed for non-incidental business	None	10%

Written by

Carl Holman

Communications Manager

As A&D Mortgage’s Communications Manager. Carl Holman has more than 20 years of expertise in marketing, media relations, and communications, having spent 10 years of his career in mortgage lending and real estate. He holds a Bachelor’s in Journalism and Mass Communications from the University of South Carolina.