Fannie Mae/Freddie Mac offers two categories of Condo Approvals: Limited Review & Full Review. A Limited Condo Review is a streamlined program offered by Fannie Mae & Freddie Mac for loans categorized as lower risk. Condominiums underwritten under the Limited Review program are several times MORE LIKELY TO BE APPROVED than those submitted under the Full Review program. In South Florida for example, less than 10% of loans submitted for full condo review will receive condo approval & close. For this reason, knowledgeable borrowers often opt for a Limited Review Condo Loan.
Limited Review LTV/CLTV Requirements (All States EXCEPT Florida)
Limited Review LTV/CLTV Requirements (Florida Properties)
Full Review Max LTV
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