Condo Loans Under New Rules | Raleigh News

Raleigh News Today | 2 Min News | The Daily News Now! · Aug 3, 2026 · 2m

Big changes hit the condo market starting August 3rd as Fannie Mae and Freddie Mac ditch their fast-track mortgage approval process, Limited Review. This move affects nearly 40% of condo projects, forcing lenders to scrutinize building finances—reserve funds, delinquent dues, ownership concentration, and insurance. Fail one benchmark? The building becomes “non-warrantable,” killing conventional financing for everyone. Buyers who thought they had a lock on their deal now face added costs, delays, and uncertainty. First-time buyers especially feel the pinch, losing the low-down-payment option…