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FRC Tool · Fannie Mae LL-2026-03

Condo Eligibility
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Enter your building's insurance details. We calculate the per-unit deductible and tell you if the condo qualifies for conventional financing under Fannie Mae's July 1, 2026 rule — instantly.

Building Info
Master Insurance Policy
$
Found on the declarations page of the master policy — labeled "replacement cost" or "insurable value"
$
Loan Info (optional — for summary report)
$
Per-unit deductible
Fannie Mae cap (July 1, 2026) $50,000
Total deductible (building)
Insurable value
Units
HO-6 requirement
Loan type assessed

How the calculation works

1
We calculate total deductible. If you entered a percentage, we multiply it by the insurable value. If flat dollar, we use it directly.
2
We divide by number of units. Fannie Mae's rule is a per-unit cap — the total deductible divided equally across all units must stay under $50,000.
3
We compare to the $50,000 cap. Under = eligible. Over = building loses conventional financing eligibility on July 1, 2026.
4
Borderline zone: $40K–$50K. Buildings within 20% of the cap should verify with the HOA's insurance broker — policy renewals, endorsements, or minor adjustments can push them over.
Source: Fannie Mae Lender Letter LL-2026-03 (March 18, 2026). This tool provides an estimate based on publicly available guidelines. Confirm eligibility with your lender or HOA insurance broker — guidelines may be updated by Fannie Mae after publication. Not financial or legal advice.

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Condo Eligibility Report — FinanceRateCalc

Generated · financeratecalc.com/condo-eligibility-scanner.html

Building:

Result:

Per-unit deductible:

Fannie Mae cap: $50,000

Total deductible:

Insurable value:

Number of units:

HO-6 required:

Loan type:

Source: Fannie Mae LL-2026-03. This report is for informational purposes only — confirm with your lender or HOA insurance broker. Not legal or financial advice.

The part almost nobody publishes free

Prices and rates are widely reported. Whether a lender says yes is not. In the complete 2025 federal record, denial rates across the 100 largest FHA lenders ran from 1.8% to 78.7% — same programme, same year.

And it is not simply who applies where: standardizing on state, loan amount, income, debt-to-income and loan-to-value, applicant mix explains only a 2.7× range in expected outcomes.

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CFPB HMDA 2025, computed by FinanceRateCalc. Covers the highest-volume lenders published per market, not all lenders. Historical observations, not predictions. CC BY 4.0, not independently reproduced.

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