PROJECT REVIEW WITH NEW PENN FINANCIAL

Clearer, Faster and Better Condo Deals with New Penn's Project Review Team
Non-Warrantable Condos:

  • Offered on Non-QM products
  • If the project is not fully completed, only 50% of the total number of units and 50% of common areas must be complete vs. 100% for warrantable condos
  • Up to 40% of the total square footage of the project can be used for commercial purposes
  • Only need up to 35% of the total units in the project to be sold or under contract for purchase to owner-occupied primary residence or second home purchases*
  • Up to 20% of unit owners can be over 60 days delinquent on their HOA dues

* New construction Condos in Florida and Newly Converted non-gut Condo Conversions are not eligible, PERS required

New Penn has a unique, solid project review department that manages their loans from start to finish, enabling us to make clearer, faster and better condo deals than any other lender out there. Plus, we do all limited review, can make exceptions and have non-warrantable condos offerings!

Standard vs. Non-Warrantable:

RESOURCES

Find the forms and information you need, any time you need to access them.
Client Library