Get Homebridge Wholesale Fannie Mae Condominium Questionnaire 2014-2025

The GSE Condo Questionnaire and the associated addendum are optional forms. Lenders often use their own forms or find other types of documentation to help them complete the project underwriting.

If a lender decides to conduct a limited review of a condo, they will typically review a subset of the complex's documents, such as the budget, financial statements, and insurance coverage. They may also require additional documentation from the borrower, such as proof of income and employment.

The Full Review process is a method for the review of new and established condo projects, co-op projects, and certain manufactured home projects. Lenders performing a Full Review must ensure that the project meets all applicable eligibility requirements.

The GSE Condo Questionnaire and the associated addendum are optional forms. Lenders often use their own forms or find other types of documentation to help them complete the project underwriting.

Since the HOA makes property decisions that can affect a lender's willingness to finance the sale, the questionnaire responses are typically part of the mortgage approval process.

Streamlined Condo Reviews require less documentation and have easier project underwriting standards than Full Review approvals. Many lenders have additional requirements above and beyond what Fannie Mae & Freddie Mac require.

Fannie Mae and Freddie Mac (federal enterprises which set the rules for 30-year, 20-year and 15-year fixed-rate loans) have specific requirements for condo loans. A “Fannie Mae approved condo” means the condo in questions meets or exceeds those requirements, and the condo is eligible for federal financing.

Limited condo reviews are a streamlined review process for lower-risk loans. Condos with limited reviews are usually way more likely to be approved than those submitting full reviews.