Condo Buyers: Washington’s New 2026 Financing Rules Just Kicked In, Here’s What Changes
By Marie-Noelle Metseye, Reward Trust with Excellence
(RE/MAX Northwest)
What changed with Fannie Mae’s 2026 condo financing requirements, and what should buyers in Totem Lake, Juanita, Kirkland, and Downtown Bothell know before purchasing a condo?For Fannie Mae-eligible condo loans with application dates on or after August 3, 2026, the Limited Review process has been retired. That means buyers who might previously have qualified through that streamlined review path may now face a more comprehensive evaluation of the condominium project itself.Fannie Mae has also updated important property-insurance requirements, including a $50,000 maximum allowable per-unit deductible for required property-insurance perils covered by a master policy. When a master policy uses a per-unit deductible, the borrower must have qualifying individual unit-owner property insurance....
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