# US condo mortgage rule changes > Live situation record from CLSTR: https://clstr.news/situations/us-condo-mortgage-rule-changes > Updated: 2026-08-05T17:46:28.000Z. Sources: 4. Developments: 2. In early August 2026, U.S. government‑backed mortgage insurers Fannie Mae and Freddie Mac announced a major tightening of condominium financing standards. Effective August 3, the “Limited Review” shortcut was eliminated, requiring a full financial and structural assessment for every condo project, and reserve requirements for associations were raised from 10 % to 15 % of the annual budget starting in early 2027. The changes target a growing number of ineligible buildings and are expected to lengthen closing times, increase loan denials, and depress resale prices for units in non‑compliant complexes. A few days later, the agencies provided additional guidance, outlining the specific criteria that lenders must evaluate—association budgets, reserve funding, insurance coverage, delinquency levels, special assessments, litigation, and any deferred‑maintenance or structural issues. Projects that fail to meet these standards will be deemed ineligible for conventional financing. The rollout includes an industry webinar on August 11, featuring Fannie Mae’s collateral risk director and National Association of Realtors officials, and highlights particular concern for aging condo stocks in states such as New Jersey. ## Timeline ### 2026-08-05: Fannie Mae and Freddie Mac Tighten Condo Mortgage Guidelines New Fannie Mae and Freddie Mac rules effective Aug 3 2026 require full condo‑association reviews, higher reserve funding and current studies, limiting financing for under‑funded communities; a NAR webinar on 8/ 2 sources. https://clstr.news/cluster/fannie-mae-and-freddie-mac-tighten-condo-mortgage-guidelines ### 2026-08-01: Miami Condo Mortgage Rules Tighten Ahead of August 2026 Deadline From Aug 3 2026, Fannie Mae and Freddie Mac drop the “Limited Review” for Miami condos, requiring full assessments and higher reserve requirements, leading to financing delays and price discounts. 2 sources. https://clstr.news/cluster/miami-condo-mortgage-rules-tighten-ahead-of-august-2026-deadline --- Cite as: US condo mortgage rule changes. CLSTR, https://clstr.news/situations/us-condo-mortgage-rule-changes