Condo buyers, sellers, and real estate professionals — this one is for you.

Fannie Mae and Freddie Mac just made significant updates to how condo projects get approved for conventional financing, and the ripple effects will be felt across the entire transaction — from contract to closing.

In this episode, Gary and Queeny break down five key changes you need to understand right now:

Warrantability Criteria — What makes a condo project eligible for conventional financing is being redefined. We walk through what's changing, what lenders are watching for, and how it affects your buyer's ability to get to the closing table.

Budget & Reserve Requirements — Associations are now under greater scrutiny when it comes to how they manage funds. We explain the new thresholds, why they exist, and what it means when a project falls short.

Insurance Requirements — Coverage standards for condo projects are tightening. We break down what associations are now expected to carry, where gaps are showing up, and how underinsured buildings are creating deal-killing problems.

Limited Review — Sunsetting — One of the most widely used shortcuts in condo lending is going away. We cover what limited review was, why it's being phased out, and what replaces it for buyers and loan officers moving forward.

Single Entity Ownership — When one person or company owns too many units in a building, it creates risk. We break down where the new lines are drawn and how it can make or break a deal.

Whether you're a buyer navigating a condo purchase, an agent managing expectations, or a loan officer staying ahead of guidelines — this episode gives you the clarity to move with confidence.

🎙️ Real Talk, Rates & Repeat is hosted by Gary Lai and Queeny Duong — two industry veterans breaking down what's actually happening in real estate finance, one episode at a time.