You qualify. Does the building?
A lender needs to review both you and the condo building. Even with a strong preapproval, the building’s insurance, finances or condition can affect the loan. Send me the listing early so we can check.
Let’s check the building early.
HOA finances
We’ll look at the homeowners association’s budget, financial records and plans for major repairs. The HOA manager can help provide the lender’s documents.
Insurance
The lender needs to check the building’s insurance, its deductibles and any coverage you must buy for your unit.
Repairs and assessments
Is there an extra HOA charge for repairs? We’ll check what it pays for, when you owe it and whether the work is complete. A funded repair can still need to be finished.
Building condition
Meeting notes, inspections and repair reports help explain the building’s condition. Serious unresolved repairs or safety concerns can prevent financing.
Legal issues and loan eligibility
A lawsuit does not automatically rule out a condo. We’ll find out what it concerns and what the lender needs. Any previous approval also needs to be checked for your loan.
Check the rules for this building.
Condo rules change, and a larger down payment does not automatically remove the building review. I’ll confirm what applies to this property and explain what we need.
Details on the current condo rules
Condo review requirements changed in 2026. Fannie Mae retired Limited Review and Freddie Mac retired Streamlined Review for covered applications dated August 3, 2026 onward. Other applicable review and exemption paths remain. A larger down payment alone is not a reliable promise of simplified building review.
Reserve-study requirements also changed. A separate increase in the standard reserve-allocation requirement applies to covered applications beginning January 4, 2027; it should not be treated as already universal today. Ask the lender which rules and effective dates apply to your specific transaction.
Know the full monthly cost.
Include HOA dues and extra assessments in your budget, even when you pay them separately from the mortgage. Ask about planned increases and repairs, and keep a cash cushion you’re comfortable with.
I’ll help you understand what we know about the building, what still needs checking and how that could affect your loan.
I can compare available lender options, but not every condo can be financed. We’ll confirm what is possible for you and the building.
These educational resources explain the rules behind the guide. They do not establish approval for a particular loan.
Keep exploring
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