Fannie Mae Selling Guide B4-2.2-04 — Geographic-Specific Condo Project Considerations
Fannie Mae Selling Guide B4-2.2-04 — Geographic-Specific Condo Project Considerations.
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Verbatim provisions from Fannie Mae Selling Guide B4-2.2-04 — Geographic-Specific Condo Project Considerations — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
Fannie Mae Selling Guide B4-2.2-04 — Geographic-Specific Condo Project Considerations
B4-2.2-04, Geographic-Specific Condo Project Considerations (03/01/2023) Introduction This topic contains information on geographic-specific condo project considerations, including: Florida — Attached Units in New and Newly Converted Condo Projects Florida — Project Review Maximum LTV Requirements for Attached Units in Established Projects Published May 6, 2026 672 Waiver of Project Review Requirements Florida — Attached Units in New and Newly Converted Condo Projects Fannie Mae project approval is required for new and newly converted condo projects consisting of attached units located in Florida. To request a Fannie Mae project approval refer to B4-2.2-06, Project Eligibility Review Service (PERS). Florida — Project Review Maximum LTV Requirements for Attached Units in Established Projects The following tables describe the maximum LTV ratios that are permitted for the specific project review type for loans secured by units in condo projects located in Florida. Unless noted otherwise, these requirements are based on the LTV ratio of the mortgage loan. Florida — Attached Units in Established Condo Projects Maximum LTV Ratios 1 Maximum LTV, CLTV, and HCLTV Ratios 2 Approved by Fannie Mae Lender Full Review (with CPM) Lender Limited Review Principal Residence 95% Manual 97% DU 75/90/90% Second Home 90% 70/75/75% Investor 85% 70/75/75% Waiver of Project Review Requirements The above requirements do not apply if the transaction is eligible for a project review waiver. See B4-2.1-02, Waiver of Project Review for additional information. Published May 6, 2026 673 Refer to the Eligibility Matrix for the maximum allowable CLTV and HCLTV ratios. (For example, a mortgage loan for a unit in a PERS-approved project can have a CLTV ratio up to 105% if it meets the Eligibility Matrix and Community Seconds requirements.) 1 The CLTV and HCLTV ratios in this column align with the maximum CLTV and HCLTV ratios that are permitted for projects outside of Florida, as described in B4-2.2-01, Limited Review Process. 2 Recent Related Announcements The table below provides references to the Announcements that are related to this topic. Announcements Issue Date Announcement SEL-2023-02 March 01, 2023 Announcement SEL-2022-02 March 02, 2022