Checklist of Condominium Documents Needed for Mortgage Loan

Here’s a handy Checklist of Condominium Documents typically required by a mortgage lender when a buyer is purchasing a condo in Michigan. These documents help the lender determine whether the condo association and property meet financing guidelines (especially for FHA, VA, or conventional loans like Fannie Mae/Freddie Mac).

✅ Condo Documents Needed for Mortgage Loan in Michigan

🔹 From the Homeowners Association (HOA) or Condo Management Company:

• Condominium Master Deed

• Condominium Bylaws and Amendments

• Condominium Declaration (if separate from bylaws)

• Articles of Incorporation of the HOA

• Current HOA Budget (usually for the current fiscal year)

• HOA’s Year-End Financial Statements (income, expenses, reserves)

• HOA Reserve Study (if available)

• Master Insurance Policy Declaration Page

• Fidelity Bond or Crime Insurance Policy (for associations with employee access to funds)

• HOA Certificate or Questionnaire (lender-provided or industry standard form — see below)

• Occupancy Breakdown (number of units: owner-occupied vs. rental)

• Delinquency Report (percentage of units behind on dues — often must be under 15%)

• Pending or Ongoing Litigation Statement (if applicable)

🔹 From the Buyer or Seller (as part of purchase agreement):

• Signed Copy of the Condominium Disclosure Statement

• Association Contact Info (for lender follow-up)

🔹 Common Lender Forms (typically requested):

• Fannie Mae Form 1076 / Freddie Mac Form 476
  (aka Condo Project Questionnaire – Full or Limited Review)

• Limited Review Eligibility Certification (if applicable)

• FHA or VA Condo Approval Certificate (if using FHA/VA loan)

📌 Disclaimer – Mortgage Loan Documentation for Condo Purchases in Michigan

The following list of documents is provided for informational purposes only and is based on commonly required items for condominium mortgage loans in the state of Michigan. Requirements may vary depending on the lender, loan type (Conventional, FHA, VA, etc.), and the specific condominium association or project. Buyers should consult directly with their mortgage lender or loan officer to confirm the exact documentation needed for their loan approval.

Joseph White and Century 21 Professionals are not lenders and do not guarantee loan approval or the acceptance of any specific documentation. Always refer to your lender’s official loan document request list and timelines.