Conventional Condo Review Services - Get Your Condo Project Approved Fast
We help lenders, HOAs, buyers, and agents sail through the condo project review process — with faster turnaround, lender-ready documentation, and zero surprises at closing.
The Hidden Risk Behind Condo Financing
Most conventional mortgage rejections for condos don’t come from the buyer – they come from the project itself.
If the condo building doesn’t meet Fannie Mae or Freddie Mac guidelines, lenders won’t approve the loan. The most common causes?
- Not enough HOA reserves
- Insurance coverage too low
- One investor owns too many units
- Pending litigation or structural issues
- Non-warrantable designation from past deals
And worst of all – most people don’t find out until the underwriter says “denied.”
Complete, Compliant, Condo Reviews
At Condo Approval Professionals, we specialize in fast, accurate Conventional Condo Review Services – helping clients nationwide confirm whether their condo project meets current Fannie Mae and Freddie Mac lending standards.
We take the guesswork out of condo financing eligibility. Our experienced team handles:
- Full or Limited Reviews
- Financial & legal document analysis
- Occupancy and reserve ratio verification
- Commercial-use evaluation
- Litigation and bylaw red-flag checks
Whether you’re a lender, buyer, HOA, seller, or real estate agent, we’ll help you uncover issues early and fix them fast.
Why Our Clients Trust Us – Real Benefits, Real Results
We don’t just understand the rules – we anticipate lender expectations. With our insider knowledge of Fannie Mae Form 1076 and Freddie Mac condo guidelines, we help you prepare a complete, compliant review package from the start. That means fewer document requests, faster underwriting turnarounds, and fewer stalled closings.
From underfunded reserves to missing insurance coverage or excessive rental ratios, we know what underwriters flag – and we catch it before they do. Our proactive review approach gives you time to resolve issues early, so you’re not blindsided late in escrow.
Whether you’re working with a non-warrantable building, a mixed-use development, or a condo conversion with outdated bylaws, we’ve likely seen it – and solved it. Our team has helped hundreds of challenging condo projects pass conventional review requirements without needing to re-apply or switch loan types.
No matter where your condo is – from Miami Beach to Minneapolis – we offer coast-to-coast coverage with detailed knowledge of regional lender expectations and HOA documentation practices. We tailor our reviews to meet both national guidelines and local lender preferences.
Who We Help
We assist clients across the real estate and lending ecosystem:
- Mortgage Lenders & Loan Officers – Get clean documentation and faster approvals
- Real Estate Agents & Brokers – Avoid mid-escrow surprises
- HOA Boards & Property Managers – Ensure the project is marketable and compliant
- Buyers & Sellers – Protect your deal before issues arise
Choose the Right Type of Condo Project Review
Understanding which review your condo project needs is crucial to getting approved, and avoiding costly delays. At Condo Approval Professionals, we offer both Limited and Full Review services, guided by your financing scenario, down payment, occupancy type, and lender requirements.
Ideal for primary residence purchases with at least 10% down (or 25% for investment) and strong borrower credentials.
This streamlined review focuses on essential factors like:
- Insurance coverage (master hazard and liability)
- Single entity ownership is analyzed on limited/streamline reviews, so we will evaluate concentrated ownership.
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Basic financial and project eligibility elements are still checked to ensure conformity with agency standards.
Because it requires fewer documents and limited scrutiny, it’s faster and less costly – but only available for certain loans.
Best for: Borrowers with larger down payments and conventional, low-risk loan scenarios.
If your loan doesn’t qualify for Limited Review, you’ll need a Full Review, which applies detailed Fannie Mae or Freddie Mac project eligibility rules.
Our Full Review includes a complete audit of:
- HOA financials: budget, year-end statements, and reserve funding (10% minimum)
- Insurance declarations: hazard, liability, fidelity bond, flood (if applicable)
- Bylaws & governing docs: to ensure no lending conflicts exist
- Litigation & legal risk: active lawsuits, construction defects, violations
- Occupancy and ownership concentration
- Delinquency rate: no more than 15% of units 60+ days past due
- Commercial space ratio: typically must be ≤25%
We use current Fannie Mae Form 1076 (or Freddie equivalent) and walk you through everything your lender will look for—before they ask for it.
Best for: Purchases with <10% down, second homes, investment properties, or any condo where lender is requesting a full eligibility review.
Not Sure Which One You Need? We’ll Tell You.
Whether you’re an agent, buyer, or loan officer, we’ll help you identify the correct review type upfront—and handle every document and detail for you.
What's Included In A Condo Review
Your Conventional Condo Review includes:
- HOA budget and reserve funding analysis
- Master insurance and liability policy evaluation
- Fidelity bond verification
- Owner-occupancy and investor concentration analysis
- Commercial-use and litigation screening
- Review of CC&Rs, bylaws, articles of incorporation
- Summary report with lender-ready checklist
Red Flags We Help Identify & Fix
Avoid condo project financing failures by addressing:
- Less than 10% of HOA income allocated to reserves
- Over 15% of units with >60-day delinquency
- Inadequate insurance (e.g., no fidelity bond)
- 20% of units owned by one entity
- 35% commercial space use
- Ongoing litigation or unresolved structural defects
- Short-term rental conflicts in bylaws
We give you a roadmap to correct these before submission.
Evaluate Critical Repairs, Deferred Maintenance & Special Assessments
One of the most important components of a Conventional Condo Review is evaluating the physical and financial condition of the condominium project beyond the basics — including critical repairs, significant deferred maintenance, and any special assessments that may impact marketability or eligibility.
We analyze whether the project has outstanding issues that could materially affect the safety, structural soundness, or habitability of the buildings. This includes reviewing inspection reports or engineer analyses (if available) to identify any serious problems — such as roof failure, water intrusion, load-bearing deficiencies, or other conditions that lenders consider critical. Projects with unaddressed critical issues or widespread deferred maintenance may be deemed ineligible until those concerns are resolved.
Special assessments are additional charges levied by the homeowners association to fund major repairs or projects not covered by standard dues. Our team reviews whether those assessments are tied to critical repairs or significant deferred maintenance and evaluates:
- The purpose and scope of the assessment
- Amount approved vs. amount remaining to be collected
- Whether the assessment has been paid in full or remains outstanding
- Potential impact on unit owners and lender underwriting
If a special assessment is associated with a critical repair that hasn’t yet been completed, it could affect the project’s eligibility for conventional financing.
By thoroughly evaluating these areas as part of the condo review, we help ensure your project meets lender expectations — not just on paper, but in real-world financial and physical condition.
For Condo Developers: Build With Confidence + Maximize Marketability
As a condo developer, your project’s marketability hinges not just on design and construction – but on whether lenders will finance the units you sell. Conventional condo project reviews aren’t just a closing hurdle for buyers – they’re a critical determinant of your project’s success in the marketplace.
A conventional condo review evaluates the entire development against Fannie Mae and Freddie Mac guidelines – not just the individual units. If your project doesn’t meet standards, buyers may be stuck seeking more expensive financing, delaying sales or shrinking your buyer pool.
Why Developers Should Care
Most buyers seeking conventional financing will walk away if the project is deemed non-warrantable because their lender can’t issue a conforming loan.
- Developer-controlled associations (especially in new builds) often trigger a full review, which requires complete documentation and strict adherence to guidelines.
- Missing or incomplete HOA setup, outdated bylaws, or lack of reserve funding are common deal blockers.
Lenders look for owner-occupancy ratios typically ≥50% before approving conventional loans – something that can be hard to demonstrate early in new developments unless planned for.
What Our Team Helps You Get Right
We help you structure your project before it goes to market so that it meets the standards lenders will check, including:
We review your CC&Rs, bylaws, articles, and HOA formation documents to ensure they meet conventional lending criteria.
A funded reserve that satisfies industry requirements is critical – not having one is a top reason projects fail conventional review.
We advise on how developer unit ownership and investor concentrations could impact review outcomes.
Confirming that master hazard, liability, flood (if applicable), and fidelity bonds are in place and appropriately structured.
We flag items like excessive commercial space, short-term rental provisions, or pending litigation risk before lenders do, saving you time and rework.
Developer Benefits
- Faster sales and closings – Buyers with conforming financing options expand your market.
- Stronger lender confidence – Reduced underwriting pushback, smoother approvals.
- Competitive advantage – A project prepped for conventional eligibility is more attractive to Realtors and investors alike.
How Our Condo Review Process Works — Simple, Clear, and Fast
We make the condo project review process smooth and stress-free. No confusing paperwork. No chasing down obscure forms. Just clear steps, expert guidance, and lender-ready documentation – fast.
Once you get started, we’ll send you a simple checklist tailored to your project and review type (Full or Limited). Most of the documents can be obtained from your HOA, property manager, or developer.
Common documents include:
- Current HOA budget & year-end financials
- Master insurance certificate & liability coverage
- Fidelity bond (for 20+ unit buildings)
- HOA’s governing documents (CC&Rs, bylaws, articles)
- Reserve study (if available)
- Occupancy breakdown (owner vs. renter units)
- Details of any ongoing litigation or special assessments
Don’t worry – if you’re missing something, we’ll help you track it down.
Our team reviews your documents using the latest Fannie Mae Form 1076 and Freddie Mac project eligibility standards. We analyze:
- Reserve contributions (10% rule)
- Insurance compliance
- Owner-occupancy and investor concentration
- Commercial-use ratio
- Financial stability and delinquency rate
- Legal risk and bylaw conflicts
We don’t just fill out a checklist – we flag issues, explain what they mean, and prepare your project for a smoother lender review.
You’ll receive a detailed report with:
- A summary of compliance status
- Any items that require correction or clarification
- A checklist you can give directly to your lender or underwriter
- Guidance on how to fix any disqualifying issues
This final step gives you the confidence to move forward — or take corrective action before you’re stuck in escrow limbo.
Ready to Get Approved? Let’s Make It Happen – Fast.
Avoid last-minute loan denials, underwriter delays, and the stress of non-warrantable condos. Whether you’re a lender, agent, buyer, or HOA, we’ll help you clear the financing hurdle with confidence.
– Fast, nationwide condo project reviews
– Full & Limited reviews for Fannie Mae and Freddie Mac
– Clear, lender-ready documentation – no back-and-forth
At Condo Approval Professionals, we stand behind every review! Upon completion of the Condominium Project Review, a signed warranty is issued for the Condominium Project (if the Condominium Project meets associated governmental guidelines.)
Guidance on fixing red flags before they stop your deal
We’ve helped thousands of projects get approved and closed – let’s get yours across the finish line.
Call us at 847-293-2962 or click the button below to get started.
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Conventional Condominium Review Services FAQs
It’s a required evaluation of the entire condominium project — not just the unit — to ensure it meets financing guidelines.
Typical turnaround is 3–5 business days. Expedited service may be available.
Yes. We regularly work with HOA boards and management companies to help them meet review standards.
Yes. We help identify causes of non-warrantability and provide a clear roadmap to address them.
We are an independent provider. While we are not Fannie/Freddie, our documentation meets the standards lenders use for project review.
Yes. You’ll receive a PDF summary outlining compliance and any required changes.
- Reserve funding (10%)
- Occupancy (≥50% owner-occupied)
- Insurance requirements (including fidelity bond)
- Litigation and commercial-use limits
- Delinquency thresholds
You’ll receive a list of action steps and recommendations to resolve deficiencies.
Buyers, sellers, lenders, real estate professionals, and HOAs can request a project review.
Yes — our review services are available nationwide.
