🚨 Big Changes to Condo Financing! 🚨

Fannie Mae and Freddie Mac are overhauling their rules, and it could make or break your next condo deal. Here is what you need to know:

🏢 Realtors & Buyers: Protect Your Next Condo DealSignificant changes to Fannie Mae and Freddie Mac condo financing rules are right around the corner. If you aren't preparing now, your deals could stall out. Here is what is shifting:

1️⃣ More Paperwork, Slower Timelines (Aug 3, 2026)The streamlined "Limited Review" is officially retiring. All condo purchases will require a "Full Project Review." This means a deep dive into the HOA’s balance sheets and insurance, which will inevitably stretch out timelines.

2️⃣ Stricter HOA Reserve Rules (Jan 4, 2027)The minimum reserve funding requirement is increasing to 15% of the annual budgeted income. If an HOA isn't adequately funded, the entire building could lose eligibility for conventional financing.

How to Prep: Don't wait for underwriting to find a red flag. Loop me in early, pull the HOA budget and reserve studies upfront, and check the financial health of the building before your buyer writes an offer.

- tom

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