Get Pre-Approval in Snowshoe, WV!

Mortgage Pre-Approval is an important first step in purchasing a new property. That being said, financing a Snowshoe property can be tricky, primarily because some of the mountain property is considered “unwarrantable.” This means that some Snowshoe properties do not qualify for long-term fixed-rate mortgages that can be sold on the secondary market (Fannie, Freddie, FHLB, etc.).

Properties in Snowshoe, West Virginia, are sometimes considered “unwarrantable” because they are located in a condominium development with unique characteristics that make it difficult or impossible for the units to qualify for conventional financing. An “unwarrantable” property typically refers to a property that does not meet the guidelines set by Freddie Mac and Fannie Mae, the two largest government-sponsored entities that buy and sell mortgages in the United States.

Often lenders will require a “condo questionnaire” to be completed to understand better the type of property being financed.

snowshoe real estate


What is a condo questionnaire?

A condo questionnaire is a document that most lenders require to determine if a property is designated as a townhouse or condominium – and is part of an HOA (Homeowner’s Association). The document helps lenders determine whether or not projects such as those in Snowshoe, WV comply with the lender’s underwriting prerequisites.

Lenders consider condominium units riskier than single-family homes because the physical and fiscal well-being of the entire development affects the unit’s value. If other residents fall behind on their association fees, the community’s fiscal health is influenced. Similarly, if a high proportion of non-occupant owners rent out their units without maintaining them, it affects the community’s physical state. Therefore, association managers or HOAs are asked to fill out the condo questionnaire upon a lender’s request.

Condotels in Snowshoe

Local WV Lenders Can Provide Snowshoe Financing

Luckily, there are local Snowshoe lenders who can provide financing. Reach out to me at or call (301) 501-7231 and I will connect you with one of those lenders!