HomeBridge Wholesale Fannie Mae Condominium Questionnaire 2021-2025 free printable template

FANNIE MAE CONDOMINIUM QUESTIONNAIRE FULL REVIEW 5+ UNITS (NEW AND ESTABLISHED) ANSWER KEY Catalan No. Borrower(s) Name:Project Name (Exact) Project Address (including county) : Home bridge is processing

How to fill out fannie mae condo questionnaire

How to fill out HomeBridge Wholesale Fannie Mae Condominium Questionnaire

1. Begin by downloading the HomeBridge Wholesale Fannie Mae Condominium Questionnaire from the official website or your loan officer.
2. Fill in the condominium project's name and address at the top of the questionnaire.
3. Complete the section regarding the nature of the project including the number of units, owner-occupied ratio, and percentage of commercial space.
4. Provide details on any pending litigation involving the condominium association.
5. Indicate the type of insurance coverage held by the association.
6. Include information on the association's reserves and budget.
7. Confirm compliance with Fannie Mae guidelines by checking the pertinent boxes.
8. Review all entries for accuracy and completeness.
9. Sign and date the questionnaire before submitting.

Who needs HomeBridge Wholesale Fannie Mae Condominium Questionnaire?

1. Real estate agents working with condominium buyers.
2. Loan officers and mortgage brokers processing loans for condominium purchases.
3. Condominium associations providing necessary information for financing.
4. Potential buyers needing to understand financing requirements for their purchase.

People Also Ask about

What is a Fannie Mae condo questionnaire?

The Condominium 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. A substantially similar form may also be used in its place.

Does Freddie Mac require condo questionnaire?

There is no “legal” requirement to complete the Questionnaire; however, if the Questionnaire is not completed, the condo will likely be ineligible for mortgage insurance from Freddie Mae or Fannie Mac, effectively excluding units in that community from being approved for financing.

How much is a condo questionnaire fee in Florida?

ingly, the statute makes it clear that Condominium Associations are entitled to charge for questionnaires up to the following amounts: 1. $150.00; 2. the 'reasonable' cost of photocopying; and 3.

What is a condo questionnaire in Florida?

A condo questionnaire is a document that a mortgage lender sends the property manager of a condominium. It asks several pages of questions related to the budget and management of a condominium.

What is the full form of condo?

A condo, short for condominium, is an individually owned residential unit in a building or complex comprised of other residential units. Condo owners share a common space and often pay association fees to maintain the common space, amenities, and other shared resources.

Who pays for condo questionnaire in Florida?

If the requirements are met, the lender can in turn consider providing a loan to the condo buyer. Someone associated with the condo fills out the questionnaire. This is often the condo building's managing agent. The borrower cannot fill it out directly.

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What is HomeBridge Wholesale Fannie Mae Condominium Questionnaire?

The HomeBridge Wholesale Fannie Mae Condominium Questionnaire is a document used to collect essential information about a condominium project for mortgage underwriting purposes, ensuring the property meets Fannie Mae's eligibility criteria.

Who is required to file HomeBridge Wholesale Fannie Mae Condominium Questionnaire?

The questionnaire must be filed by developers, homeowner associations, or property managers of the condominium projects seeking to secure financing through HomeBridge Wholesale and Fannie Mae.

How to fill out HomeBridge Wholesale Fannie Mae Condominium Questionnaire?

To fill out the questionnaire, provide detailed information about the condominium project's legal structure, financial standing, management, and compliance with Fannie Mae guidelines. Accurate and complete responses are essential for approval.

What is the purpose of HomeBridge Wholesale Fannie Mae Condominium Questionnaire?

The purpose of the HomeBridge Wholesale Fannie Mae Condominium Questionnaire is to evaluate the stability and marketability of the condominium project, ensuring it qualifies for financing and meets Fannie Mae's standards.

What information must be reported on HomeBridge Wholesale Fannie Mae Condominium Questionnaire?

The questionnaire requires information such as the project's legal name, address, contact details, financial statements, assessment of owner-occupants versus tenants, and any pending litigation or special assessments.