Frequently Asked Question
Quick Answer
Buildings with insufficient reserves, unresolved structural issues from a milestone inspection, or pending litigation can be placed on Fannie Mae or Freddie Mac's ineligible list, making the building "non-warrantable" for conventional loans. Ask your lender to check the specific building's approval status before writing an offer, since this varies building by building, not by neighborhood.
No. Buildings with insufficient reserves, unresolved structural issues from a milestone inspection, or pending litigation can be placed on Fannie Mae or Freddie Mac's ineligible list, making the building "non-warrantable" for conventional loans. Ask your lender to check the specific building's approval status before writing an offer, since this varies building by building, not by neighborhood.
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