What Is a Fannie Mae Non-Warrantable Condo?

A non-warrantable condo with Fannie Mae, the government entity that securitizes mortgages, is one that does not meet the guidelines for financing eligibility. The condominium complex as a whole is not warrantable, meaning that lenders see it as a high-risk property and one less likely to maintain future value. The official title for Fannie Mae is the Federal National Mortgage Association.

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