Look up all Warrantable and Non-Warrantable Condos in Phoenix, Scottsdale

 Broker Executives, Inc is now partnering with a lender that does nonwarrantable condos up to 85% nonowner investor ratio! We’ve had many Realtors call our office including many buyers. If you’re in the market for a condo, please don’t hesitate to call our office to receive more information. This information is only available to our Real Estate Brokers and buyers wishing to work with us. Please do not call if you’re an Account Executive.

This is only for the Arizona Region and only available for buyers with at least 5% down. The nonwarrantable ratio for FHA is currently 50%; however, with our lender you can purchase a condo up to an 85% non owner investor ratio.





*In its revised regulations, HUD stuck with a number of previously announced requirements that have drawn criticism from investors and developers, including that fifty percent of the units be owner-occupied. However, HUD says it will no count vacant or tenant-occupied bank-owned REO (R-E-O) as non-owner occupied units in the computation.

*The main changes were that in the controversial policy that no more than 30 percent of the units in a condo project could be financed with FHA-insured mortgages. The new standard maximum will be 50 percent.

*For new developments or condo conversion projects, FHA financing will be available in projects where at least 30 percent of the existing units have been sold.

The new rules were mainly geared at new condo conversion projects. That’s where we saw the biggest changes. It’s understandable that they made the changes to new developers, but why didn’t they amend the 50% nonwarrantable rule? If you noticed, they only helped out developers of these condos and not future buyers or sellers for that matter.

Without amending the 50% nonwarrantable rule, it will be impossible for the condo market to ever increase in value. Most condos right now are selling for less than 40k in the Phoenix Metro area. This is down from 120k over a year ago and down from 80k less than 12 months ago. Now, this is only troublesome for buyers and sellers not investors of these units. Investors can pick these up for a steal right now. If you would like to receive a list of REO Condos, please email us.