09/20/2026
š” Condo Financing Is Changing ā Hereās What Buyers & Owners Should Know
If you own a condo, are thinking about buying one, or plan to sell, changes from Fannie Mae and Freddie Mac may affect how some condominium purchases are financed.
⢠Condo reviews changed in August 2026. Fannie Mae retired its Limited Review process for applications dated on or after August 3, 2026, meaning applicable established condo projects now generally need a Full Review or, when eligible, a waiver of project review. This puts greater attention on the associationās budget, reserves, insurance, property condition and overall project eligibility.
⢠Appraisals change November 2, 2026. For new appraisal reports submitted through the Fannie Mae/Freddie Mac system, UAD 3.6 becomes mandatory. The redesigned appraisal is more data-driven and provides a more structured picture of the property and its market.
⢠Another important change arrives January 4, 2027. For Fannie Mae Full Reviews, the minimum replacement-reserve allocation increases from 10% to 15% of annual budgeted assessment income for applicable loan applications.
⢠Why does this matter? A beautiful condo may not be enoughāthe financial health and documentation of the condominium association can play an important role in whether a buyer can obtain conventional financing.
For buyers, sellers and condo owners, understanding the building can now be just as important as understanding the unit. šļø
Camila Maz | Home Sales Specialist
The Keyes Company
š 305-300-8880
āļø [email protected]