Non-Warrantable Condominium

First United Bank offers the ability for borrower(s) to buy condominiums in projects that do not meet the standards required by FNMA, FHMLC and most Jumbo investors.

The Non-Warrantable Portfolio loan allows loans with the following characteristics (along with others not listed) that are less stringent than standard Agency requirements:

• Lower pre-sale requirement for new projects
• Lower percentage of the units required to be occupied by borrower(s) as their primary residence
• A higher percentage of the project can be occupied by commercial space
• Projects that operate as a Condominium Hotel are allowed in certain markets

First United offers competitive pricing and terms on the Non-Warrantable Condominiums. Contact your local Mortgage Loan Consultant to find out more information on this exciting product!