Residential
Non-Warrantable Condo in Austin, TX
What is a Non-Warrantable Condo? Non-Warrantable Condo is a specialized mortgage solution offered by CMRE for real estate financing. This program provides tailored terms, flexible underwriting, and expedited closing timelines to meet the unique needs of property buyers and investors in Austin, TX.
Austin homebuyers trust Custom Mortgage for their Non-Warrantable Condo needs. With deep knowledge of the local market, from East Austin to Downtown, we provide tailored solutions with rates as low as 6.875%.
Key Facts About Non-Warrantable Condo
CMRE Non-Warrantable Condo offers competitive rates for qualified borrowers.
CMRE processes Non-Warrantable Condo in 21-30 days from application.
CMRE offers cross-collateral options for Non-Warrantable Condo.
CMRE Non-Warrantable Condo accepts alternative income documentation for self-employed.
CMRE processes Non-Warrantable Condo in 21-30 days.
CMRE Non-Warrantable Condo accepts alternative income documentation.
CMRE Non-Warrantable Condo available for primary, second home, and investment.
Program Benefits
Access financing for non-warrantable condos that may be excluded by other lenders.
Competitive rates, starting at 6.875%, tailored to your financial situation.
Lower down payment options available, with LTVs up to 97%.
Streamlined application process for quick approvals.
Expert guidance from our experienced mortgage specialists.
Ideal for investors or those seeking unique condo properties.
Program Highlights
Max LTV
97%
Min Credit Score
620
Max DTI
55%
Loan Amount Range
$75K - $2M
Amortization Options
Eligible Properties
- Condo
Program Requirements
Income Documentation
- •Stable and verifiable income history required.
- •Acceptable debt-to-income ratio (DTI).
- •Proof of income documentation (pay stubs, tax returns, etc.).
Asset Verification
- •Sufficient assets for down payment and closing costs.
- •Verification of funds through bank statements.
- •Reserves may be required depending on loan amount and risk profile.
Insurance & Title
- •Hazard insurance coverage required.
- •Flood insurance may be required depending on the property location.
- •Condo association insurance verification.
Property Requirements
- •Minimum FICO score of 620 required.
- •Review of credit history to assess risk.
- •Explanation for any derogatory credit events.
Non-Warrantable Condo in Austin: The Complete Guide
What Is Non-Warrantable Condo?
A non-warrantable condo is a property within a condominium complex that doesn't meet the lending guidelines of Fannie Mae or Freddie Mac. This can be due to a variety of factors, such as a high percentage of units owned by a single entity, ongoing litigation, or low owner-occupancy rates. Despite these factors, non-warrantable condos can still be excellent investment opportunities or a great way to achieve homeownership. CMRE specializes in providing financing solutions for these types of properties.
Who Qualifies for Non-Warrantable Condo?
- •Income documentation varies: W-2, 1-Year Tax Return (Freddie Mac), bank statement, VOE-only, or P&L options available through CMRE.
- •Credit requirements depend on specific Non-Warrantable Condo guidelines — CMRE evaluates your full profile.
- •Down payment assistance programs can be combined with Non-Warrantable Condo for eligible borrowers.
- •Cross-collateral options: leverage existing property equity to reduce your down payment.
Non-Warrantable Condo vs. Other Options
- •CMRE compares Non-Warrantable Condo against FHA, VA, and other residential programs to find lowest total cost.
- •Factors: credit score, down payment, self-employment status, property type, ownership period.
- •For self-employed: CMRE's VOE-only and P&L programs may provide better qualification.
- •CMRE runs multiple scenarios and recommends the program with best long-term value.
Apply for Non-Warrantable Condo with CMRE
- •Step 1: Pre-qualification online, by phone, or via Instant Advisor.
- •Step 2: Pre-approval with documentation — issued within 24 hours.
- •Step 3: Property search — CMRE coordinates with your agent.
- •Step 4: Processing and underwriting in 14-21 days.
- •Step 5: Closing in 21-30 days total from application.
Current Mortgage Rates
30-Year Fixed Rate
6%
as of 3/5/2026 · FRED
Est. Monthly Payment in Travis County
$2,158/mo
Based on $450,000 median · 20% down · P&I only
15-Year Fixed Rate
5.43%
as of 3/5/2026 · FRED
Est. Monthly Payment in Travis County
$2,928/mo
Based on $450,000 median · 20% down · P&I only
Rates are national averages and may differ from your actual rate. Contact us for a personalized quote.
Get Your Rate →Live Market Data: Travis County
Source: Redfin · 2026-01-31Median Sale Price
$450,000
Median List Price
$510,000
Price / Sq Ft
$240.581
Days on Market
106
Active Listings
5,026
Homes Sold
726
Sale-to-List Ratio
96.5%
2025 Conforming Loan Limits: TRAVIS
1-Unit (SFR)
$806,500
2-Unit (Duplex)
$1,032,650
3-Unit (Triplex)
$1,248,150
4-Unit (Fourplex)
$1,551,250
Source: FHFA 2025 Conforming Loan Limits. Loans above these limits require jumbo financing.
Non-Warrantable Condo in Austin, TX
Travis County is undergoing the most significant market recalibration of any major Texas metro. The median sale price of $450,000 is down 5.7% year-over-year — the steepest decline in our Texas coverage — and the 106-day average days on market is the longest we track in the state. With 5,026 active listings and a 96.5% sale-to-list ratio, the Austin market has shifted decisively from the seller-dominant environment that peaked in early 2022 to a transactional landscape where buyers have real leverage for the first time in four years.
The correction reflects a supply response to pandemic-era overbuilding combined with the unwinding of speculative investor positions, not a demand collapse — Austin's tech employment, University of Texas anchor, and population in-migration story remains intact. For genuine owner-occupant buyers, this is a historic window. Sellers who purchased at 2022 peaks are negotiating aggressively, and the $806,500 conforming limit covers the current median, allowing buyers to avoid jumbo pricing on what was a mid-range home 18 months ago.
Travis County draws the technology worker segment more heavily than any other market we serve. Amazon, Apple, Tesla, Meta, Google, and Oracle have all expanded Austin campuses significantly, generating high-income RSU-compensated employees who need lenders who understand how to count restricted stock units in qualifying income. The self-employed tech founder and early-employee segment is also highly active — these borrowers often have significant liquid assets and complex income, making non-QM and bank statement programs the appropriate tools. University of Texas faculty and graduate students represent a smaller but consistent segment.
Document RSU vesting schedules from your employer — Austin tech employee RSU income can be counted if it shows a two-year history, and it often doubles your qualifying income.
Service Areas & Neighborhoods
Our Austin Presence
Local Knowledge. Global Rates.
111 Congress Ave
Austin, TX 78701
Direct Line
877-976-5669Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Get Matched in 60 Seconds
Our AI Instant Advisor analyzes your situation — credit, loan amount, property type — and matches you to the right program. No credit pull. No obligation.
Get Your Numbers
Quick quote or detailed payment estimate — no credit pull
Quote Wizard
AI-Powered Rate Intelligence
Step 1: Loan Foundation
Mortgage Estimator
Principal & Interest Only
Common Questions About Non-Warrantable Condo in Austin
A condo is considered non-warrantable if it doesn't meet the standard requirements set by Fannie Mae or Freddie Mac. Common reasons include a high percentage of renters, pending litigation, or financial instability of the HOA.
Yes, typically the interest rate is slightly higher to compensate for the increased risk associated with non-warrantable properties. However, CMRE strives to offer competitive rates, starting at 6.875%.
The minimum down payment can vary depending on the lender and the specific property. With CMRE, LTVs up to 97% are possible, allowing for a lower down payment.
Non-warrantable condos can present unique investment opportunities or provide access to desirable locations or amenities that may not be available with warrantable properties. They often come at a lower price point, offering excellent value.
Requirements vary. CMRE offers options as low as 3% for qualified borrowers and cross-collateral options that use existing property equity.
Yes. CMRE offers 1-Year Tax Return (Freddie Mac), bank statement, P&L, and VOE-only programs for self-employed.
CMRE typically closes in 21-30 days. Pre-approval within 24 hours.
Depends on program. CMRE also offers DSCR and bank statement investment-specific programs.
The current national 30-year fixed rate is 6.00% (Freddie Mac PMMS). Non-Warrantable Condo rates in Austin vary by loan amount, LTV, and credit profile — CMRE provides locked quotes within 24 hours of application.
CMRE typically closes Non-Warrantable Condo loans in Austin within 21-30 days from application. The Travis County market has seen home prices fall 5.7% year-over-year — buyers currently have more leverage, but rate locks still protect you from market moves. Our TX-licensed team coordinates title, escrow, and appraisal concurrently to minimize time-to-close.
All residential neighborhoods in Austin and Travis County qualify for Non-Warrantable Condo through CMRE. The current median sale price in Travis County is $450,000, with homes averaging 106 days on market and prices down 5.7% year-over-year. Single-family homes, condos, townhomes, and 2-4 unit properties are eligible.
Yes. CMRE offers first-time homebuyer programs in Austin including down payment assistance, 3% down conventional, and FHA 3.5% options. TX residents may also qualify for state-specific grants and bond programs.
Non-Warrantable Condo by Location
Get local rates, loan limits, and market data for Non-Warrantable Condo in your area.
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Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
