Planning on selling your Maine or Florida condo?
Fail the new rules and you lose 7 in 10 buyers.
Starting August 3, 2026, Fannie Mae and Freddie Mac rewrite the rules for financing a condo across Maine and Florida, from Portland to Miami, Fort Lauderdale, Tampa, Orlando, Naples, and beyond. On January 4, 2027, the reserve requirement climbs to 15 percent of the budget. If your association will not meet the standard, the loan will not close. Not for Fannie. Not for Freddie. Not for FHA. Not for VA.
If you own a condo and plan to sell in the next 12 to 24 months, this is not optional. You need to know where your building stands before you list, not after a buyer walks.
Limited Review goes away
Every loan will trigger a Full Review of the entire association: reserves, insurance, delinquencies, litigation, deferred maintenance. Your buyer's credit will no longer save a building that fails.
Reserves jump to 15 percent
The reserve minimum will rise from 10 percent to 15 percent of the annual budget. Associations that do not fund to the line will fail Fannie and Freddie underwriting. No exceptions.
Insurance and repairs
Master policies must carry replacement cost coverage with a per unit deductible of 50,000 dollars or less. Unfunded critical repairs over 10,000 dollars per unit make a building ineligible.
For the first time, the building has to qualify. Not just the buyer.
A spotless 760 credit score and 25 percent down will not close on a condo that fails the new standard. The rules are changing. The risk is moving to your association. The only question left is which side of the line your building will be on.
Condo ReadinessThe Condo Association · Form CR-1
CR-2026-00417
Assessed 06 / 2026
Narrowing
- 01Project size · 24 unitsPass
- 02Reserve study · currentPass
- 03Reserve funding · 11 percentFlag
- 04Critical repairs · roof unfundedFail
- 05Master insurance · replacementPass
- 06Delinquencies · 9 percentPass
- 07Single entity · 8 percentPass
- 08Special assessment · plannedFlag
Every owner who finishes the assessment gets this: an issued readiness grade, not a brochure. Your result routes straight to Deja Lett and Travis Penny.
The Condo Ready Score
Have these handy for the most accurate score: your HOA's reserve study, current budget, and master insurance policy. Don't have them? Estimate, we'll confirm on your free review.
8 quick questions · about 3 minutes
Deja Lett & Travis Penny
Associate Broker and founder of Top Homes Group at Keller Williams, with teams in Southern Maine and Tampa Bay. Licensed in both states. She positions your condo and runs the sale.
tophomesgroup.com →
Mortgage broker, licensed in Maine and Florida. He started in the mortgage business in 2004 and he is still here. He reads your association's numbers against the rules and brokers the financing that gets buyers to the table.
travis.mortgage →One team. Both sides of the move. You are never handed to a stranger.
What condo owners ask us most
Book your free review with Deja & Travis
No pressure, no obligation. We'll review your Condo Ready Score together and map out your best options, financing and sale, one team.