Thinking about buying a condo? Watch this first.
Fannie Mae and Freddie Mac just made major changes to condo financing—moving away from “streamline” approvals and requiring full reviews for most buildings. That means stricter guidelines, especially around reserve funding (increasing to 15% by 2027).
Not every condo will qualify anymore—and that could impact your ability to get a loan.
Before you buy, make sure the building is approved.
#mortgage #realestate #condo #homebuying #nycrealestate #yourmortgageguy
Fannie Mae and Freddie Mac just made major changes to condo financing—moving away from “streamline” approvals and requiring full reviews for most buildings. That means stricter guidelines, especially around reserve funding (increasing to 15% by 2027).
Not every condo will qualify anymore—and that could impact your ability to get a loan.
Before you buy, make sure the building is approved.
#mortgage #realestate #condo #homebuying #nycrealestate #yourmortgageguy
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