06/05/2026
Condos are going to be harder to finance. This doesn’t mean you shouldn’t pursue a condo it you love it, but August 1st, Fannie Mae and Freddie Mac are increasing the association reserve requirements from 10% up to 15%.
All condo associations will also require a full association review, which means higher costs, no shortcuts, and possible extended closings.
A number of local association management companies are very difficult to work with, they do not respond with the critical info we need, and also charge fees to the homeowners for documents we will require.
If you are considering a condo, you need a lender that will do research upfront, that has years of condo experience, and has your best interest at heart.
You may love the unit, but if it’s a weak association with issues, we’re going to tell you upfront. Give us a call!! We’d love to be on your team.
