Helping you get condos financed in Florida

SAD (Special Approval Designation)

What is a SAD approval?

SAD approval is for an established condo only.  A SAD approval is performed by Fannie Mae directly.  Lenders cannot submit condo projects to Fannie Mae for a SAD review, however they can recommend the project to Fannie Mae and Fannie Mae will make the determination as to whether or not they will review the project for a SAD approval.

SAD approved condo projects are established projects that do not ALL the minimum requirements for a warrantable condo project but Fannie Mae still feels comfortable extending financing in the project based on their review and inspection of the project.

Requirements for a SAD approval

Below are only a few of the standard requirements for a SAD review.  Speak to one of our professionals for additional requirements for a specific project.

1. Must be an established project.
   

2. The project must have some condition that would deem the project not warrantable. 
   

Click here to access the list of all SAD projects in Florida.  Any project on this list should qualify for conventional financing with as little as 3% down.  Click here to learn more about SAD approval process.

Documents Required

Below is a list of standard documents needed from the condo association for a

SAD Review.

1. Fannie Mae will determine items needed.  Contact one of our specialist to discuss the next steps for a SAD approval review.
   

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:

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Click here to get a full list of SAD approved condos in Florida.