Definition
Non-Warrantable Condo
A condominium that fails agency project standards — often due to investor concentration, litigation or inadequate reserves — requiring specialty financing.
Nearby terms
Net Operating Income
Rental income less all operating expenses, before debt service.
Non-QM Loan
A loan that does not meet the Qualified Mortgage standard, typically because income is documented differently.
Note
The promissory note: your written promise to repay a specific sum on specific terms.
Origination Fee
A charge by the lender for processing the loan, expressed as a percentage of the loan amount or a flat sum.
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