09/09/2026
Condo financing is changing, and if you’re helping buyers in Weber or Cache County, this is something worth knowing before they fall in love with a unit.
Beginning with conventional loan applications dated August 3, 2026, Fannie Mae eliminated its Limited Review option for condo projects and expanded its Waiver of Project Review. That means the condo project itself can play an even bigger role in whether a buyer’s financing works.
Here are a few things I’ll be paying close attention to for my condo buyers:
*The HOA’s financial health. Lenders review more than the buyer’s finances. The project’s budget, reserves, assessment delinquencies and overall financial stability can affect eligibility.
*Insurance coverage. The condo association’s master insurance policy matters. A buyer can be perfectly qualified and still run into a financing issue if the project’s coverage doesn’t meet applicable requirements.
*Repairs and deferred maintenance. Significant deferred maintenance, unsafe conditions or critical repairs can create eligibility problems for the entire project, not just the unit being purchased.
*Reserves and assessments. How well an HOA is preparing for future repairs matters too. Underfunded reserves can lead to larger special assessments and can affect how a project is evaluated for financing.
The big takeaway for Realtors: Don’t assume that because a condo sold with conventional financing six months ago, your buyer will automatically be able to finance another unit there today.
If you’re writing an offer on a condo in Weber or Cache County, call me before you write it. I’d much rather help you identify potential financing issues upfront than have you and your buyer discover them halfway through the transaction.
