Warrantable v Non-Warrantable: Which is which and how this affects financing
Park City and the surrounding areas offer a wide variety of condominium projects, everything from multimillion on-mountain units to one bedroom apartment style units out of town. Financing the purchase of a condo is not necessarily difficult but there are a few factors that should be taken into account. The following details can help prospective buyers and realtors alike as they evaluate different condo projects and the amenities they offer.
Warrantable is a designation that is given to condo projects by Fannie Mae when the project meets their guidelines. Warrantable condos are relatively easy to finance and allow for most existing types of…