Financing a high-rise condo isn’t the same as financing a traditional single-family home. In Las Vegas—where the high-rise market includes iconic towers like Veer Towers, The Martin, Turnberry, Panorama, and Sky—buyers often run into unique lending requirements that many lenders simply don’t understand.
Whether you’re buying a primary residence, second home, or investment unit, this guide breaks down everything you need to know to successfully finance a high-rise condo in Las Vegas.
1. Understanding High-Rise Condo Financing (and Why It’s Different)
High-rise loans come with additional layers of review because lenders must evaluate both your financials and the building’s financial health.
This includes:
- HOA financials
- Budget and reserves
- Litigation
- Insurance coverage
- Owner-occupancy ratios
- Single-entity ownership percentages
One issue in the building can limit financing options—even if you are fully qualified.
That’s why buyers should work with a lender who knows the high-rise landscape inside and out.
2. Warrantable vs. Non-Warrantable Condos
The biggest factor in high-rise financing is determining whether the building is warrantable or non-warrantable.
Warrantable Condos
These meet Fannie Mae/Freddie Mac guidelines, meaning you can use:
- Conventional loans
- Lower down payments
- Competitive interest rates
Most major towers are warrantable, but this can change if the HOA is dealing with litigation or low reserves.
Non-Warrantable Condos
These do not meet agency guidelines and require:
- Portfolio loans
- Higher down payments (usually 20–30%)
- Slightly higher rates
- More documentation
Some of Vegas’ most popular luxury towers periodically fall into this category depending on the building’s condition or legal status.
3. Down Payment Requirements for High-Rise Condos
Your down payment depends on whether the building is warrantable and what type of loan you’re using.
Typical requirements:
- Primary residence (warrantable): 5–10% down
- Second home: 10% down
- Investment property: 20–25% down
- Non-warrantable building: 20–30% down
Jumbo high-rise units may require additional reserves or stricter qualification guidelines.
4. Understanding HOA Requirements and Fees
High-rise HOA fees are typically higher than traditional condos because they cover:
- Concierge services
- Valet
- Security
- Amenities (gym, pool, spa, lounge)
- Maintenance
- Utilities in some buildings (water, internet, trash, etc.)
Lenders must verify HOA stability. Low reserves or pending assessments can directly impact loan approval.
Pro tip: Before making an offer, ask your lender whether the building is already approved. The Derek Parent Team keeps an updated high-rise building approval list.
5. Jumbo Loans for Luxury High-Rise Units
Many Strip-facing high-rise units exceed conforming loan limits, requiring a jumbo loan.
Jumbo loans typically require:
- 700+ credit scores
- Strong income documentation
- 6–12 months of reserves
- 10–20% down minimum
The good news? Jumbo rates have become more competitive and often closely match conventional pricing.
6. Investment Property Financing
Las Vegas high-rises are popular for:
- Corporate rentals
- Traveling nurse housing
- Longer-term furnished rentals
- Second homes
While most high-rises restrict nightly rentals, many allow 30-day minimum leases, making them attractive for mid-term investors.
To finance an investment high-rise, expect:
- 20–25% down
- Higher debt-to-income scrutiny
- DSCR loan options for certain buildings
Your lender must confirm rental restrictions upfront.
7. Common Issues That Can Delay High-Rise Approval
High-rise loans require extra due diligence, so delays can happen—especially with inexperienced lenders.
Common issues include:
- HOA insurance policy gaps
- Pending litigation
- Low building reserves
- Too many investors in the building
- One owner holding too many units
- Incomplete condo questionnaires
Working with a lender familiar with each building significantly reduces delays.
8. Why You Need a High-Rise Specialist
High-rise lending is a niche inside the mortgage industry. Most big-box lenders and online mortgage companies struggle with:
- Warrantability reviews
- HOA document analysis
- Non-warrantable programs
- Jumbo portfolio approvals
- Building-specific nuances
As the original in-house lender for Veer Towers, Derek Parent is one of the most experienced high-rise lenders in the city, with decades of experience financing units across the Strip and beyond.
When you work with a specialist, you get:
- Faster approvals
- Access to warrantable + non-warrantable programs
- Accurate building information
- No last-minute surprises
- Smoother closings
Final Thoughts
Financing a high-rise condo in Las Vegas is incredibly doable—but only when you work with the right team and know what to expect. From warrantability to HOA reviews to jumbo financing, the process requires local expertise and a lender who understands each tower’s unique requirements.
If you’re considering buying a Las Vegas high-rise, connect with The Derek Parent Team. We’ll help you navigate financing options, compare buildings, and secure the right loan for your goals.