Real estate
fromwww.housingwire.com
1 week agoMortgage experts weigh in on GSE condo updates
GSEs will require full project reviews for condo loans, increasing costs and documentation requirements for homeowners associations starting Aug. 3.
Review all HOA documents: Request and thoroughly read the Covenants, Conditions, and Restrictions (CC&Rs), bylaws, rules and regulations, and the most recent meeting minutes (at least 12 months). These documents outline everything from pet policies and rental restrictions (including short-term rentals like Airbnb) to renovation guidelines and noise limits. Assess HOA financials: Request the past three years of financial statements, annual budgets, and the latest reserve study.