09/08/2026
Big news for anyone buying, selling, or financing a condo: Fannie Mae and Freddie Mac have retired the Limited/Streamlined Project Review for loan applications dated August 3, 2026 or later. Most eligible condo projects will now go through a Full Project Review.
What's easier now:
✅ Smaller projects (10 units or fewer) may qualify for a review waiver
✅ The 50% owner-occupancy rule for established projects has been removed
✅ Roof replacement cost coverage & inflation guard requirements are gone
What's stricter now:
📈 Minimum HOA reserve allocations jump from 10% to 15% (effective January 4, 2027)
📊 HOA budgets must follow the highest reserve funding level recommended by a reserve study
🏠 Per-unit master policy deductibles are now capped at $50,000
The bottom line: With condo financing, the project matters just as much as the buyer. Not every building will meet Fannie/Freddie guidelines — but that doesn't mean the deal is dead. Non-warrantable condo options may still get you to the closing table.
Have a condo deal in the works? Send us the project details and let's see if a path forward exists!
