Page 1 of 1

Buying a Non-Warrantable Condo in Florida

Shawn Beaudoin

Published 6 months ago

Yikes, that title sounds a little scary, doesn’t it? It doesn’t have to be! You head down to Florida on vacation and stay in a fantastic great vacation rental. It’s amazing because it’s Florida! After a day or two you get to thinking, “Hey, we should buy one of these!” I mean mortgage rates are still historically low and you have good credit. You look around and find a bunch of available listings and even an open house down the street. You pop by and the excitement grows. Maybe you get a Realtor right then and there, maybe it’s something that is still in the back of your mind. You know you want to buy a vacation home or a condo there at the beach!

And then you hear those magic words for the first time: Non-Warrantable Condo. What does that even mean? Short answer is “it does not meet conventional guidelines and will not be bought by government-backed entities like Fannie Mae and Freddie Mac”. Basically, most vacation home/rental type condos are considered non-warrantable. This is as opposed to regular residential condos that you live in which are typically considered warrantable and can be bought and sold much like a typical single-family residence.

Here are some of the factors that that generally make a condo non-warrantable:

- Over 50% of the units are not owner-occupied.

- The complex allows short-term rentals.

- The project is not yet completed.

- A single person owns more than 10% of the total units.

- The complex / HOA is under current litigation.

Need a copy?

Download PDF

National Rate Averages

Conf. 30Y Fixed


FHA 30Y Fixed


Jumbo 30Y Fixed


Rate averages are calculated from actual locked rates. Learn more.

Additonal Resources

What Home Buyers Need To Know About Appraisal Gaps

Published 5 months ago

Flip the Script and Get Mortgage Assured to Buy Your New Home!

Published 5 months ago

What’s Your Rate? The Answer Is: It Depends…

Published 6 months ago

Financing Is Readily Available But Goes Most Easily To Those Who Plan Ahead.

Published 6 months ago

Why It’s Super Important to Lock Your Mortgage Rate

Published 6 months ago

Two Reasons Why Waiting a Year To Buy Could Cost You

Published 6 months ago

The Shawn Beaudoin Team @ Rockstar Home Loans, Tampa

Company NMLS# 227765

4301 W Boy Scout Blvd #170
Tampa, Florida 33607
  • Equal Housing Opportunity Logo

License #: MLD949 (Mortgage Lender License); MLD2037 (Mortgage Lender Servicer License)
Other Trade Names: Alegre Home Loans; DayOne Mortgage Group; Direct Mortgage Funding; eClick Lending; Heritage Home Loans; Midwest Equity Mortgage; Neo Home Loans; Pacific Northwest Lending; PCL Financial Group; Robert Coomer Group; The Driscoll Mortgage Team; The Mindful Mortgage Team; Veteran’s Mortgage Source; Von Mortgage; Wells Funding Group

© 2022 Lender Launchpad. This is not a Government website. Lender Launchpad and its products are not endorsed by the Department of Veterans Affairs or the US Department of Housing and Urban Development. The content on this site is for educational purposes only and is not an advertisement for a product or an offer to lend. If you have questions about the loan officers featured within our lender directory, please visit the Nationwide Mortgage Licensing System & Directory for more information and to check their licensing status at