Lender Questionnaire
The data lenders need to approve HOA property loans
A lender questionnaire is a standardized form that mortgage lenders require when underwriting loans for properties in HOA or condominium communities. It provides critical data about the association's financial health, insurance coverage, litigation status, owner-occupancy ratios, and governance structure. Without a completed lender questionnaire, most conventional and FHA/VA loans for condo units cannot be approved.
Who Needs This Document?
What's Included
Frequently Asked Questions
Why do lenders require this questionnaire?
Fannie Mae, Freddie Mac, FHA, and VA all have guidelines for lending on HOA/condo properties. The questionnaire provides the data lenders need to verify the association meets these guidelines — including financial health, insurance adequacy, and owner-occupancy ratios.
Is this different from a Fannie Mae 1076 form?
The lender questionnaire typically provides the same information needed for Fannie Mae Form 1076 (formerly 1073) and similar forms. Some lenders use their own proprietary questionnaire format, which we can accommodate.
What if the association doesn't meet lender guidelines?
The questionnaire reports factual data about the association. If the data doesn't meet a lender's requirements (e.g., too many investor-owned units or insufficient reserves), the lender may decline the loan or require additional documentation.
Can I use this for a refinance?
Yes. Lender questionnaires are required for both purchase loans and refinances on HOA/condo properties.
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