Fannie, Freddie, FHA and VA have made significant changes to the condo approval process–both for existing and new construction.
www.MortgageCurrentcy.com (see Charts/Checklist Toolbar) has created a handy comparison chart to share with your real estate agents! It will help determine what type of financing is eligible for which type of project.
Are you lending in a UDSA area? USDA says that they will accept ANY condo project that is approved by ANY agency–but the location of the condo has to qualify too.
