"Your condo didn't pass the review."
Here's what that actually means — and the three ways around it.
Since August 3, every Charlotte condo over 10 units gets a Full Review, and a lot of good buildings fail it on paperwork, not problems. Run the nine questions below and you'll know which lane you're in before anyone wastes a week.
Condo Warrantability Checker
Answer from the listing, the HOA budget and one call to the management company. "Not sure" is a valid answer — it tells you what to ask.
Want the HOA questionnaire checklist — and Trevor's read on this building?
You'll get the exact documents and questions to request from the HOA, and a straight answer on which program fits. No credit pull. Not an application. No building gets named to anyone.
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Check your inbox for the checklist. I'll look at what you entered and follow up with which program fits — or whether I'd walk.
Estimates only. Not an offer or a commitment to lend. This tool compares your answers against published Fannie Mae and Freddie Mac project-eligibility thresholds as of November 2026 and is provided for educational purposes; results are illustrative and accuracy is not guaranteed. Actual project eligibility is determined by the lender's project review of the association's documents, and program availability, loan-to-value limits, occupancy rules and terms vary by program and are subject to change without notice. Non-warrantable and condotel financing is available on select in-house Fairway programs subject to program guidelines and project review; some projects may require a brokered program; not all projects or applicants will qualify. This is not an offer to enter into an agreement. All loans subject to credit and property approval. Not all products are available in all states. Trevor Higgins NMLS #1410557. Fairway Home Mortgage, a division of Fairway Independent Mortgage Corporation, NMLS Entity ID #2289 (www.nmlsconsumeraccess.org). Equal Housing Opportunity.
The three ways around a failed review
"Non-warrantable" is a verdict on the project's paperwork, not on your unit or your credit. It changes which loan you use, not whether you can buy.
1. Fix the project
If the failure is a deductible over the cap, a reserve line under the threshold, or a missing reserve study, the HOA can often cure it — sometimes in a board meeting. Slowest path, cheapest loan. Worth one phone call before you give up on conventional.
2. In-house non-warrantable program
Fairway finances non-warrantable condos on select in-house programs for primary residences, second homes and investment properties, with alternative-income and DSCR options. Expect a larger down payment and a higher rate than conventional. Condotels have their own programs; investment use is the most limited.
3. The investor route
DSCR loans qualify on the unit's rent and were never tied to warrantability. And since March 18, 2026, the 50% investor-concentration cap is gone for established projects under Full Review — investor-heavy buildings are conventionally financeable again for the first time in years.
Trevor's take: the loan is the easy part. The exit is what I'd worry about.
I can finance most non-warrantable condos. The question I ask every buyer is whether they should want me to. When you buy a unit in a building that fails review, you inherit the problem at resale: your eventual buyer faces the same review you did, so your pool shrinks to cash buyers and people who can qualify on a non-conventional program. Fewer buyers means a longer sale and less leverage on price. Refinancing narrows the same way.
So I sort failures into two piles. Paperwork failures — a deductible over the cap, reserves a few points short, a stale reserve study — are curable, and a good HOA cures them. Buy those with confidence and push the board. Problem failures — structural litigation, open special assessments for critical repairs, chronic delinquency — are the building telling you something. The non-warrantable loan gets you in; it does not fix what made the building non-warrantable, and it will still be there when you want out.
If the checker above put you in the "needs a Full Review" lane, that's the best lane to be in: most of those buildings pass once someone actually collects the documents. If it put you in "likely non-warrantable," ask which pile before you ask about the loan.
The 2026 rules, in one table
What changed, when, and what it means for a Charlotte building. Thresholds from the Fannie Mae Selling Guide and Freddie Mac Seller/Servicer Guide project standards; we re-verify each January.
| Effective | Rule | Why it matters |
|---|---|---|
| Mar 18, 2026 | 50% investor-concentration limit removed for established projects under Full Review; review waiver extended to projects of 10 or fewer units | Investor-heavy buildings are conventionally financeable again; small projects skip the review |
| Jul 1, 2026 | Master policy per-unit deductible capped at $50,000; HO-6 must cover at least the master deductible | A common, curable failure — many Charlotte master policies moved to percentage deductibles after 2022 |
| Aug 3, 2026 | Limited Review (Fannie) and Streamlined Review (Freddie) retired; projects over 10 units require Full Review; "baseline" reserve funding no longer accepted | The big one. Buildings that passed last year on a Limited Review now get tested on reserves, insurance, litigation and delinquency |
| Jan 4, 2027 | Minimum replacement-reserve allocation rises from 10% to 15% of budget, unless a reserve study under three years old is funded to its top tier | Budgets adopted this fall decide whether a building is warrantable in January. Ask the board now |
Sources: Fannie Mae Selling Guide B4-2.1-01, Project Standards · B4-2.2-02, Full Review · Freddie Mac Guide 5701, Condominium Projects. Page reviewed November 2026.
Questions buyers and agents ask first
What makes a condo non-warrantable in 2026?
The project fails Fannie Mae or Freddie Mac eligibility — not the unit. The common 2026 triggers: reserves under the required share of budget, a master policy deductible over $50,000, pending structural or safety litigation, more than 15% of owners 60-plus days delinquent, one owner above the allowed share of units, commercial space above 35%, or unresolved critical repairs. Since August 3, projects over 10 units can't use a Limited Review, so more buildings get tested.
Can I get a mortgage on a non-warrantable condo in Charlotte?
Usually, yes. Fairway offers in-house non-warrantable programs for primary residences, second homes and investment properties, with alternative-income and DSCR options, subject to program guidelines and project review. Expect a larger down payment and a higher rate than conventional. Projects with incomplete critical repairs are the hardest case and may need a brokered program.
What changed for condo loans on August 3, 2026?
Fannie Mae retired the Limited Review and Freddie Mac retired the Streamlined Review for applications dated on or after August 3. Projects over 10 units now require a Full Review regardless of down payment, and baseline reserve funding is no longer accepted. Buildings that passed on a Limited Review in 2025 can fail a Full Review in 2026 on paperwork alone.
What is the 15% condo reserve rule?
For applications dated on or after January 4, 2027, associations must allocate at least 15% of the annual budget to replacement reserves, up from 10%. An association is exempt with a professional reserve study under three years old, funded at or above its highest recommended tier.
Can I finance a condotel in Charlotte?
Yes, on select in-house programs. Condotels — hotel-style rentals, front desks, mandatory rental pools — are never warrantable, so conventional is out. Fairway offers condotel financing for primary, second-home and investment use, with investment the most limited. The first call tells you which program fits.
Does buying a non-warrantable condo limit my resale options?
It can. Your eventual buyer faces the same project review, so the pool narrows to cash and non-conventional borrowers unless the HOA fixes the issue. Refinancing narrows the same way. Ask whether the problem is paperwork the board can cure or a structural or financial issue that will still be there when you sell.