"Fannie Mae and Freddie Mac introduced new condo guidelines in mid-March that will make financing more challenging, particularly in larger buildings. These agencies help keep money flowing in the housing market by purchasing loans from lenders."
"To qualify for a conforming loan on a Boston condo, both the borrower and the condo project must meet specific criteria. The condo building must be 'warrantable,' meaning it meets Fannie Mae or Freddie Mac guidelines regarding owner-occupancy rates, insurance coverage, and financial reserves."
Fannie Mae and Freddie Mac have introduced new guidelines for conforming loans on Boston condos, making financing more difficult, particularly for larger buildings. The conforming loan limit for a one-unit property in Boston will be $1,249,125 in 2026. Borrowers must meet specific criteria, including a minimum credit score of 620, down payments of 3% to 5%, and a debt-to-income ratio capped at 45% to 50%. Condo projects must be warrantable, adhering to guidelines on owner-occupancy and financial reserves, or they may require jumbo financing.
Read at Boston Condos For Sale Ford Realty
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