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Government-sponsored enterprises (GSEs) have developed standardized Condo Project Questionnaire forms (1076/1077). Although optional, we recommend these forms. They offer lenders a clear and consistent approach to collecting condo project information from HOAs.
What is required for a condo limited review?
Limited Review Condo Questionnaire confirming: No hotel services/nightly or weekly rentals/mandatory rental pool. No single entity owns greater than 10% of the units of the building. Small 1-4 unit condo projects are eligbile as long as no individual owns more than 1 unit.
Does Freddie Mac require a condo questionnaire?
A inium Project Questionnaire (Fannie Mae Form 1076 or Freddie Mac Form 476), will also be required. This form provides detailed information about the inium project, including its level of completion, the number and types of units, insurance information, financial controls, and more.
What is the limited review process?
Limited review is conducted as per SRE 2410 Review of Interim Financial Information performed by independent auditor of the entity. An interim audit is a year end statutory audit engagement which is broken into multiple parts and each such part is known as an interim period.
Who requests the condo questionnaire?
Lenders require a condo questionnaire to assess the financial health and stability of the inium association. It helps them determine the risk associated with lending on a specific property.
fannie mae limited review condo questionnaire
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The inium Project Questionnaire (Form 1076) helps lenders collect data to determine condo project eligibility. This form is optional; however, lenders are encouraged to use and retain the form in the loan file.
Is a condo questionnaire needed for underwriting?
Yes, lenders usually require a condo questionnaire when a buyer is applying for conventional mortgage financing for a condo unit, especially if they are applying for a conventional mortgage backed by Fannie Mae or Freddie Mac. As of 2025, Fannie Mae and Freddie Mac backed mortgages make up 70% of the mortgage market.
fnma limited review condo questionnaire form
Federal National Mortgage Association
Dec 6, 2006 Form 10-K or any amendment to this Form 10-K. □. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit
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