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Non-Warrantable condominiums are eligible for a number of Bayview’s portfolio products:
- Early Access Product
- Alternative Income Product
- Asset Inclusion Product
- Expanded Ratio Product
Additional restrictions may apply. Review product sheets for additional information.
Explore your options with Bayview Loan Servicing
- 70% LTV or less on all non-warrantable condo portfolio loans
- 60% of total units must be sold or under contract/pending sale
- 20% or less of the total units may be owned by one single entity
- Condotels may be considered if the project is residential in nature
- 10% reserve allocation not needed if current reserve balance exceeds 20% of operating expenses
- No more than 25% of the unit owners are more than 30 days delinquent
- Delinquency requirement may be waived if current reserve balance exceeds 30% of operating expenses
- No defined maximum commercial influence. Appraiser must confirm project is common and customary to the market as well as prove there is no adverse impact on the marketability as a residential project
- Second homes permitted
Best for Customers…
Who are interested in non-warrantable properties.
We make exceptions! Speak with your representative or contact UnderwritingQuestions@BayviewLoanServicing.com and learn about the flexibility of our products.
To view the PDF version of the Non-Warrantable Condominiums product page, click here.