Purchasing a condo requires a clear understanding of the unique loan options designed for specific types of condo properties. Whether you're buying a high-rise unit, a non-warrantable condo, or a condotel, each type comes with distinct requirements and considerations. This guide explores the key details to help you make informed decisions.
High-Rise Condos
Towering Residences: Understanding High-Rise Condo Financing
High-rise condos are residential units in buildings with more than 16 floors, often located in urban centers. These properties offer unique advantages and challenges for buyers and lenders alike.
Advantages and Drawbacks
- Advantages: Panoramic views, premium facilities, and prime locations
- Drawbacks: Longer elevator wait times during peak hours and potential safety concerns in emergencies.
Notable High-Rise Developments
- Four Seasons Residences, Chicago: 66-story tower priced from $2M–$10M with Lake Michigan views and upscale amenities.
- Trump Tower, New York City: 58-story building in Midtown Manhattan with units starting at $3M offering views of Central Park and Hudson River.
Loan Options for High-Rise Condos
These loans often allow loan-to-value (LTV) ratios up to 90 but may involve additional conditions depending on the HOA's financials, questionnaire and building size.

Prime Locations for High-Rises
- San Francisco: South Beach neighborhood offers exceptional views.
- South Florida: Fort Lauderdale Beach, Miami's South Beach and Brickell.
- Dallas: The Harwood and Arts Districts feature stunning towers.
- Los Angeles: Century City, Hollywood, and downtown Financial District
- San Diego: Downtown areas like Bankers Hill and Little Italy
Still have questions? Check these answers
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What reasons will a lender not lend on a Non-warrantable Condo?
If any of the project's buildings or units have structural damage or if the HOA is in pending litigation.
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What reasons will a lender not lend on a Condotel?
One reason is the HOA doesn't have sufficinet reserves. Others are some units are owned as timeshares, the unit cannot be rented during certain days of the year by the owner, and less than 500 square feet, lacks a dedicated kitchen area or separate bedroom.
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What reasons will a lender not lend on a FHA or Fannie-mae approved condo?
When the unit falls into the category of being non-warrantable which includes one person or entity owning more than 10-percent of the units, the builder/developer hasn't transferred ownership, or the majority of units are non-owner occupied. The condo project is likely on the denial list.