Condo special assessments
A special assessment does not automatically make a condo ineligible. The reason for the assessment is what matters.
What the lender reviews
For current or planned special assessments, Fannie requires the lender to understand the purpose, approval timing, original amount, remaining amount to collect and expected payoff date.
Critical-repair assessment
If an assessment is tied to a critical repair and the underlying issue remains unremediated, the project is ineligible until the repair requirements are satisfied.
Routine capital work is different
Normal preventative maintenance and ordinary capital replacement can be acceptable when handled within a sound budget or properly structured assessment.
Official guide baseline
Fannie Mae Selling Guide · Freddie Mac Seller/Servicer Guide
Condo eligibility is both loan-level and project-level. A strong borrower does not cure an ineligible project.