Helping you get condos financed in Florida

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Full Lender-Review


What is a full lender-review?

A full lender-review requires the lender to review all legal documents, budget, insurance, and other items required to insure the project satisfies all of the standard requirements for Fannie Mae project approval.  The majority of lenders will NOT offer this option for condo mortgages in Florida because they are not willing to absorb the risk associated with warranting condominiums in Florida.


A lender performing a full lender-review must have a dedicated department with legal resources that are capable of determining whether or not all condo documents meet all statutory requirements and review the condo budget to ensure all financials are acceptable to Fannie Mae.

Requirements for a Full Lender Review approval

A condo project must satisfy all of the following requirements to be eligible for a Full Lender review, and additional conditions may apply.


  1. BulletMust be an Established Project as defined by Fannie Mae.

  2. BulletNon-residential space cannot exceed more than 20% of the total project.

  3. BulletNo more than 15% of the unit owners can be more than 30 days delinquent on HOA fees.

  4. BulletNo single entity can own more than 10% of the total units in the project.

  5. BulletAdequate budget.

  6. BulletReview of all condominium declarations and by-laws.



There are only a few lenders in Florida who are willing and able to perform a full lender review.  Furthermore, there are even fewer loan originators who know anything about the procedures for a full lender review.

Documents Required

Below is a list of standard documents needed from the condo association for a Full Lender Review.


  1. BulletLender specific condo questionnaire form. (ask your lender what they require)

  2. BulletEvidence of master insurance policy, including Fidelity and flood policies if applicable.

  3. BulletCopy of the recorded condominium declarations, by-laws, and articles of incorporation, if applicable.

  4. BulletCurrent Budget.

  5. BulletPublic Offering statement/Prospectus/White report

  6. BulletMaster association budget and insurance, if there is a separate master association in addition to the condo association.


FloridaHomePath.com, LLC is not a mortgage lender.  FLCondoTeam.com is a site for information purposes only.  All information provided is based on Fannie Mae condo project requirements.  Click here for Fannie Mae resources.  Lenders and banks reserve the right to have more restrictive requirements at their sole discretion. 

** All loan information is updated frequently.  Contact a Mortgage Professional to confirm loan details.  All material is subject to change without notice.


FloridaHomePath.com is not owned or affiliated with Fannie Mae.  Flcondoteam.com is owned and operated by FloridaHomePath.com, LLC.  See our privacy policy and terms of service.

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  1. HUD Review

  1. Limited-Review

  1. Full Lender Review

  1. CPM Review, including PEWs

  1. SAD Review

  1. PERS Review

Condo Approval Methods:

Find out what type of approval your condo may qualify for. Click hereCheck_my_Condo.htmlCheck_my_Condo.htmlCheck_my_Condo.htmlCheck_my_Condo.htmlCheck_my_Condo.htmlshapeimage_12_link_0shapeimage_12_link_1shapeimage_12_link_2shapeimage_12_link_3