Condo financinggot harder.We know the way through.
Since August 3, 2026, most Fannie Mae condo loans need a full review of the building's finances: its budget, savings, insurance and repairs. Many DMV buildings now fail that check. We check the building before you fall in love with the unit, then match you with the loan that will actually close.
Secure application, about 10 minutes. A licensed loan officer reviews it and reaches out to walk you through your options.
Who we help with condos.
A strong fit if
- You're buying a condo in DC, Maryland or Virginia
- Your agent heard the building is non-warrantable, or a lender already said no
- The HOA has low reserves, a special assessment, pending repairs or a lawsuit
- The building has a lot of investors, short-term rentals or commercial space
- You want to know if a building will pass before you write an offer
Compare options if
- You're buying a single family home or a townhome without a condo association. Start with conventional or FHA
- The building is already approved and you qualify easily. A standard conventional loan will price best
Four ways to finance a condo.
There are four ways to finance a condo. Which one works depends on the building as much as on you.
| Non-warrantable, in plain English | A non-warrantable condo is in a building that doesn't meet Fannie Mae and Freddie Mac rules. The unit can be perfectly fine. The problem is usually the HOA's savings, insurance, repairs, a lawsuit or the mix of owners. |
|---|---|
| Conventional | Since August 3, 2026, most Fannie Mae condo loans need a full review, a detailed check of the building's budget, savings, insurance and repairs. Some small buildings and loans with larger down payments can still skip it. |
| FHA | The building must be on HUD's FHA-approved condo list, or the single unit can sometimes be approved on its own. 3.5% down with a 580+ score. |
| VA | The building must be on VA's approved condo list, or the lender can request approval. 0% down for eligible veterans. |
| Non-QM | For non-warrantable condos. Some programs need no HOA budget or questionnaire, and if the building's insurance falls short you can add your own. Usually 15% to 20% down. See Non-QM loans. |
| Why buildings fail | Low HOA savings, major repairs or safety issues, large special assessments, not enough building insurance, many owners behind on dues, a lawsuit, or too much commercial space. |
| HOA savings going up | Starting January 4, 2027, Fannie Mae expects HOAs to put at least 15% of their yearly budget into savings, up from 10%. Some buildings will raise dues or stop qualifying. |
| Building insurance | Since July 1, 2026, the building's insurance deductible can't be more than $50,000 per unit for conventional loans. |
What to have ready.
Don't have everything yet? Apply anyway. Your loan officer will tell you exactly what's missing.
- The unit address, or a short list of buildings you're considering
- The HOA or management company contact, if you have it
- Your recent paystubs and bank statements, or your self-employed documents
- Your purchase contract, once you have one
What happens after you apply.
You apply in about 10 minutes
Online, from your phone or computer. Prefer to talk? Call (301) 341-2200 and we'll fill it out with you.
A loan officer calls you
We review your goals and your documents and tell you plainly what you qualify for.
We shop the lenders
We compare programs and pricing across our lender partners and walk you through the options before you commit.
Condo questions we hear every week.
What is a non-warrantable condo?
A condo in a building that doesn't meet Fannie Mae and Freddie Mac rules, so a conventional loan won't work. The unit can be perfectly fine. The issue is usually the HOA's savings, insurance, repairs, a lawsuit or the mix of owners. Non-QM financing is built for these.
What changed in August 2026?
Fannie Mae retired its quicker Limited Review on August 3, 2026. Before that, many buyers with 10% to 25% down could skip a detailed look at the building. Now most need a full review, which takes longer and finds problems that used to slide through.
How do I know if a building will pass?
Send us the address before you make an offer. We check the FHA and VA lists, request the HOA's paperwork and tell you which loans will work. It can save you an appraisal fee and weeks of waiting.
Is a Non-QM condo loan more expensive?
Usually the rate is higher than conventional and it takes 15% to 20% down. Many buyers use it to buy now and refinance into conventional if the building qualifies later.
My HOA has a special assessment. Can I still get a loan?
Often yes, depending on its size, what it pays for and whether it's already funded. Assessments for major safety repairs are the ones most likely to stop a conventional loan.
Does this affect townhomes?
Only when the townhome is legally part of a condominium. Many DMV townhomes are fee simple with an HOA, and those don't need a condo review.
Compare other options.
Non-QM Loans
Bank statement, P&L, 1099, asset-based, ITIN, foreign national, interest-only and credit from 600 or no score.
ExploreLow down paymentFHA Loans
3.5% down and flexible credit for buyers with a 580+ score.
ExploreConventionalConventional Loans
3% down for first-time buyers, and mortgage insurance that comes off at 20% equity.
ExploreVeterans & militaryVA Loans
No down payment and no monthly mortgage insurance for eligible veterans and service members.
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