Is an FHA-Approved Condo Also VA-Approved? No, and Here’s Why
An FHA-approved condo isn’t automatically VA-approved. Why VA stopped accepting FHA approvals in 2009, how the two reviews differ and what to check.
FHA and VA Loans
Buying a Condo
Homeownership Education for First-Time Condo Buyers: When Fannie Mae Requires It
Fannie Mae requires homeownership education on 3%-down loans when all borrowers are first-time buyers. When it applies, who can teach it and when to take it.
Buying a Condo
Cook County Homeowner Exemption for Chicago Condo Buyers: How to Apply
The Cook County homeowner exemption cuts a condo’s assessed value by $10,000. Who qualifies, what it saves, documents to file and how to fix a missed year.
Buying a Condo
The Condo LLPA: What Fannie Mae’s 0.75% Fee Costs a Chicago Buyer
Fannie Mae’s condo LLPA adds 0.125% to 0.750% of the loan on most condo purchases. See what it costs on a $300,000 Chicago condo and who is exempt.
Buying a Condo
UAD 3.6 Starts Nov. 2, 2026: What the Appraisal Change Means for Condo Buyers
UAD 3.6 became mandatory Nov. 2, 2026, but lenders can keep using old appraisal reports until May 19, 2027. What the change means for Chicago condo buyers.
Investment Condos
Short-Term Rental Income and Condo Mortgages: Fannie Mae’s New Rules for Chicago Investors
Fannie Mae’s short-term rental income rule, required Dec. 1, 2026: who qualifies, the 50% math, and Chicago rules on renting a condo.
Building Reviews and Warrantability
Fannie Mae’s 2026 Condo Insurance Requirements: Deductible Caps and HO-6 Rules for Chicago Buyers
Fannie Mae caps condo master policy deductibles at 5% per occurrence and $50,000 per unit, and your HO-6 must cover it. What Chicago buyers should check.
High-Rise Condos
Chicago Facade Ordinance Deadlines: What Condo Buyers Should Ask This Fall
Chicago high-rise facade reports are due Nov. 1 (short form) and Dec. 1 (critical examination). What the reports say, how they affect condo loans, and what buyers should ask the building.
Building Reviews and Warrantability
The Condo Reserve Requirement Rises to 15% in January 2027: What Chicago Buyers and Owners Should Know
For Full Review loan applications dated on or after Jan. 4, 2027, Fannie Mae requires condo buildings to budget at least 15% of assessment income for reserves, up from 10%. What it means for Chicago budgets, owners and buyers.
Building Reviews and Warrantability
Limited Review Is Gone: What the August 3, 2026 Condo Change Means for Chicago Buyers
For conventional loan applications dated on or after Aug. 3, 2026, Fannie Mae no longer allows Limited Review of established condo buildings. What a Full Review checks, which Chicago buildings feel it most, and what buyers should do now.