Non-warrantable condos · Condotels · Miami & South Florida
Neil Bourdelaise and The Bourdelaise Team finance the Florida condos that standard loan programs won't: non-warrantable buildings, condotels, new construction, and investor and foreign national purchases. We look at your building first, match it to a loan program that fits, and tell you plainly what it will take to close.
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Most mortgages are sold to Fannie Mae or Freddie Mac. They have a checklist for condo buildings. If a building fails any item, it's called non-warrantable, and most lenders stop there. Here's what usually trips it up.
The HOA is charging owners extra to fix the roof, the structure, or the elevators. Lenders worry about unfinished safety repairs.
The HOA doesn't have enough money saved for future repairs, or too many owners are behind on their dues.
The HOA is suing a developer or an insurer, or is being sued. Many programs won't touch a building in active litigation.
One person or company owns a large share of the units, or most units are rented out instead of lived in.
The building has a front desk, a rental program, or nightly rentals. That makes it a condotel, and standard loans don't allow it.
The building is still being built, or not enough units have sold yet.
Florida's post-Surfside laws require structural inspections and reserve studies for many older buildings. Missing reports or weak insurance can stop a loan.
None of these automatically means no. It means you need a different kind of loan.
Some lenders keep loans on their own books or use their own building rules. That's where non-warrantable condos get financed. We know which programs fit which buildings and which borrowers.
Many of our programs put more weight on you, the buyer, than on the building alone. Strong assets can carry a lot of weight, which is how we finance buildings other lenders turn down. Every file is still fully reviewed.*
Built for buildings that fail the Fannie Mae or Freddie Mac checklist. Each lender reviews the building on its own terms.
For units in buildings that run like hotels, with a front desk or rental program.
For buildings still going up or recently finished, where sales are still underway.
DSCR stands for debt service coverage ratio. In plain terms, you qualify based on the rent the unit can bring in, not your personal income.
For self-employed buyers. We use your bank deposits to show income instead of tax returns.
Buy an investment condo in your company's name.
For buyers who live outside the U.S. Many programs require no U.S. credit and no income documents. Some programs do. Learn more →
For higher-priced units above standard loan limits.
These loans often need more money down and more documentation than a standard mortgage. We'll tell you exactly what applies to you after we see the building and your file. Not every building or buyer will qualify. We'll tell you early, not at the closing table.
With condos, the building gets approved as much as you do. Most surprises come from building paperwork that nobody reviewed until the last week.
Send us the building name and address on day one, even before you're under contract. We'll check it against the loan programs we use and tell you what to watch for.
What helps us review it fast
You don't need all of it to start. The building name alone gets us moving.
For investors
Whether this is your first rental or you already own several, many investor programs look at the property's numbers, not just your tax returns.
Many loan programs limit how many financed properties you can own. Ours doesn't, so you can keep growing your portfolio.
With a DSCR loan, the unit's expected rent does the qualifying, not your personal income.
Many investor loans let you buy in your company's name instead of your own.
Units in buildings with a front desk or rental program, which standard loans won't finance.
Investor loans often need more money down than a loan on a home you live in. We'll tell you what applies after we see the property and your file.
For real estate agents
Your buyer just heard "the building doesn't qualify." The contract clock is running. Call us before the deal dies.
We review condo buildings fast and tell you straight whether there's a loan program that works. If there is, we move. If there isn't, you'll know that too, so you can plan your next step.
We keep you in the loop from application to closing. Your buyer stays your client.
Meet Neil
I've been in mortgage lending for 23 years. Today I focus on the loans many lenders turn away: Florida condos in buildings that don't meet standard rules, condotels, and buyers who live outside the U.S. My team and I look at your building and your situation first, then tell you plainly what it will take to close, or tell you early if it won't work. You can reach us by phone, WhatsApp, or video, in English or Spanish.
Complex loans, simple experience.
Straight answers to the questions buyers and agents ask us most.
Last reviewed by Neil Bourdelaise, NMLS #476326: October 5, 2026
Yes, in many cases. Non-warrantable condos are financed through lenders that set their own building rules instead of following Fannie Mae or Freddie Mac. Expect a closer look at the building, and often more money down and more paperwork than a standard loan. The best first step is sending us the building name so we can check it against available programs.
A non-warrantable condo is a unit in a building that doesn't meet Fannie Mae or Freddie Mac guidelines. It isn't a bad building, just one that most standard loans can't finance. Common reasons include special assessments, low reserves, pending litigation, hotel-style operation, or one owner holding too many units.
Don't cancel the deal yet. "Doesn't qualify" usually means the building fails standard guidelines, not that no loan exists. Send us the building name, the reason you were given, and your contract deadlines. We'll tell you quickly whether a non-warrantable, condotel, or investor program can work.
A condotel loan finances a unit in a building that operates like a hotel, with a front desk, daily rentals, or a rental management program. Standard mortgages don't allow these buildings, so specialty lenders finance them. Condotels are common in Miami and South Florida resort areas.
Often, yes. It depends on what the assessment pays for, how much is left to collect, and whether safety repairs are finished. Some programs are fine with an assessment for routine upgrades but look harder at structural work still in progress. Send us the assessment details and we'll tell you where it stands.
Sometimes. Many lenders decline any building in a lawsuit, but some will review the case and approve it if the suit doesn't threaten the building's safety or finances. We'll need a short summary of the litigation from the HOA or its attorney.
Yes, for investment properties. Many investor loans, including DSCR loans, let you close in the name of your LLC instead of your own name. You'll usually still sign a personal guarantee, and the property can't be your primary residence.
Yes, in many cases. Many of our foreign national programs require no income documentation and no U.S. credit history. Some programs do, depending on the property and the loan. You'll typically need a valid passport and funds for the down payment and reserves held in a verifiable account. Message us on WhatsApp and we'll tell you which program fits.
Yes. A bank statement loan uses your business or personal bank deposits to show income, instead of tax returns that may understate what you earn after write-offs. It works for many self-employed buyers, including those buying in non-warrantable buildings.
Yes, with a DSCR loan. DSCR stands for debt service coverage ratio, which compares the unit's expected rent to its monthly housing cost. You qualify on the property's numbers, not your personal income.
Not with our investor program. Many loan programs, including standard conventional loans, cap how many financed properties you can own. Ours doesn't. Tell us about your portfolio and we'll walk you through how it works.
Yes, but timing matters. Most loans close when the building is finished and you take ownership, so the building has to meet the lender's guidelines at that point. Talk to us early, before your final deposit is due, so we can check the project and plan your financing.
Usually, yes. These loans carry more risk for the lender, so pricing and down payment requirements are typically higher than for a standard conventional loan. The difference depends on the building, the program, and your file, so we'll show you real numbers after a review.
You call or message. Our team responds the same day during business hours.
We review your building and your situation, usually in one conversation.
You get a straight answer and a clear plan, or an honest no.
The fastest way to a straight answer is a quick conversation.
Prefer to meet face to face? We do video calls by Zoom or WhatsApp.
Complex loans, simple experience.