Home / HELOC / The condo association can veto the project the HELOC was going to pay for.
Updated September 2026
HELOC guide
The condo association can veto the project the HELOC was going to pay for.
Condo HELOCs have two gates: the building has to fit the loan screen, and the association has to allow the work. Warrantable projects are the easy path. Non-warrantable buildings can fit the bank-statement HELOC, which also goes up to $1 million and allows that project type. A renovation still needs the association's rules on floors, plumbing, and contractors. Do not draw the line for a kitchen the board will reject. Reserves, owner-occupancy of the building, and litigation are why condos die in underwriting. Tell us about lawsuits up front.
Sending a file is not an approval and not a credit pull. We text the same business day. We do not call. If we can structure it, we name the door. If we cannot, we say so.
The screen
| Condo issue | Where it lands |
|---|---|
| Warrantable project | Standard HELOC screen |
| Non-warrantable | Bank-statement HELOC |
| Renovation rules | Association approval, separate from the loan |
| Litigation or low reserves | Can be a no |
What we fund
- Condos that match a screen
- A remodel the board already allowed
- Non-warrantable projects on the right program
What we still need. Short list.
- The first mortgage balance, rate, and whether it can stay.
- A value we can support, and the cash you actually want.
- The property state. HELOC is only GA, FL, TN, AL, NC, and SC.
- Income path: full doc, bank statements, or rent on a DSCR HELOC.
Questions
Do you do non-warrantable condos?
On the bank-statement HELOC, yes. Not on every HELOC.
Does the HOA approval replace the appraisal?
No. You may need both.
What if I own the condo as an investment?
Primary, second home, or rental can be a HELOC. The project still has to pass.
Related
These are the guidelines we screen. They are not a promise that your file hits the maximum. Credit-event seasoning, occupancy, and property condition still have to be confirmed. Not a commitment to lend. We text. We do not call.