Found a condo you can picture yourself calling home? Before you get too far into planning the furniture, there’s one detail worth understanding… your lender may need to review the community as well as you.
That isn’t a reason to give up on a place you like. It’s a reason to ask a few questions early. Here’s how I’d think about buying a condo in Tucker or greater Atlanta.
Condo financing involves two separate reviews
First, your lender reviews your finances, including income, credit, debts and available funds. Then there’s the property: the unit itself and, when required, the condominium project.
That second review can include the homeowners association’s budget, reserves, insurance, repairs and special assessments. Requirements depend on the property and the financing involved.
A pre-approval is an important starting point… but it does not mean every condo you find will qualify.
What changed with condo reviews in 2026?
For loans subject to Fannie Mae’s requirements, Limited Review retired for applications dated on or after August 3, 2026. Established projects that previously qualified for that process now need Full Review or, where eligible, a waiver of project review.
That does not mean every condo requires the same paperwork. The practical takeaway is simple: share the address and HOA contact with your lender early, so the applicable review can be identified.
Fannie Mae’s March 18, 2026 project standards update (PDF, opens in new tab) explains the change.
Your condo-shopping checklist
- Ask what the dues cover. Compare the services included, not just the amount. Keep taxes, your own insurance and other household expenses in view.
- Ask about special assessments. Are extra charges already approved or being discussed? What work would they pay for?
- Request the financial picture. Ask about the association’s budget, reserves and any available reserve study.
- Understand planned repairs. Ask about significant maintenance, structural concerns and unresolved projects.
- Review insurance with the right people. Have your lender and insurance professional help identify what the association covers and what your individual policy needs to cover.
- Identify the document contact. Find out who at the HOA or management company can provide the information your lender requests.
You don’t need to become an HOA accountant. You do want to understand the responsibilities that come with the keys.
Keep your Atlanta search specific
If you’re comparing communities in Tucker, Decatur or elsewhere around Atlanta, look at your actual commute, parking needs and association rules alongside the unit’s layout.
Ask your agent to compare similar properties and help you obtain community documents. My guide to neighborhood-level homebuying questions offers another useful starting point.
Why might the appraisal look different?
UAD 3.6 is an updated appraisal reporting standard. As of September 8, 2026, its November 2, 2026 deadline is still ahead: new appraisal reports submitted to Fannie Mae and Freddie Mac’s Uniform Collateral Data Portal must use the new standard beginning that day.
It changes how property information is reported. The format itself is not a prediction of your condo’s value. See the official UAD 3.6 FAQs (PDF, opens in new tab).
Let’s start with your questions
If a condo is on your list, I’m happy to talk through the next steps with you. Bring the address if you have one… or just bring your questions.
Connect with Art Wood or call 404-909-3567.
Art Wood, NMLS #118234 | Luminate Bank, NMLS #1281698 | Member FDIC | Equal Housing Lender. Educational information, not a commitment to lend. Borrower and property eligibility are subject to review. Information checked September 8, 2026.
