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FrontRow · Aug 2, 2026

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Prospective homebuyers eyeing a condominium may soon discover that mortgage lenders are as interested in the condo building as they are in the buyer. New condo-lending policies taking effect on Aug. 3 from Fannie Mae and Freddie Mac — government-sponsored enterprises that purchase qualifying mortgages on the secondary market — mean that some purchases could involve greater scrutiny by lenders. While lenders already review condo associations in many cases, the new policies require a closer look at the association's finances, reserve funding and building maintenance for some transactions. The changes are intended to better identify condo buildings with financial or structural problems and reduce the risk that owners face unexpected special assessments or higher association dues, according to a March 18 letter to lenders from Fannie Mae. However, some trade groups and loan experts say the change is likely to cause delays in mortgage approvals, and in some cases, lead to mortgage denials if a condo building fails to meet the new standards.

Prospective homebuyers eyeing a condominium may soon discover that mortgage lenders are as interested in the condo building as they are in the buyer. New condo-lending policies taking effect on Aug. 3 from Fannie Mae and Freddie Mac — government-sponsored enterprises that purchase qualifying mortgages on the secondary market — mean that some purchases could involve greater scrutiny by lenders. While lenders already review condo associations in many cases, the new policies require a closer look at the association's finances, reserve funding and building maintenance for some transactions. The changes are intended to better identify condo buildings with financial or structural problems and reduce the risk that owners face unexpected special assessments or higher association dues, according to a March 18 letter to lenders from Fannie Mae. However, some trade groups and loan experts say the change is likely to cause delays in mortgage approvals, and in some cases, lead to mortgage denials if a condo building fails to meet the new standards.

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