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Your Non-QM Solution for Non-Warrantable Condos

AD Mortgage
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Your Non-QM Solution for Non-Warrantable Condos
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  • LIMITED VS FULL REVIEW AT-A-GLANCE
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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.


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%
Carl Holman

Written by

Carl Holman

Communications Manager

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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.

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