What is a Non-Conforming Condo?
A Non-Conforming Condo is one that doesn’t conform to the standards set by Fannie Mae and Freddie Mac. There can be many reasons for this but the main one is a criteria set that 70% of the units must be sold. With new construction projects the best deals are usually for the first ones sold but if you can’t get a conforming mortgage and you don’t have the cash to buy it outright, what options do you have left?
Our condo program bridges that gap. With a 720 credit score and 15% down payment you can take advantage of those early bird deals on new construction condos.