If you’re shopping for a condo in Seattle, Bellevue, Kirkland, Tacoma, or anywhere in King, Pierce, or Snohomish County, there’s something you need to know: the rules just changed.

On March 18, 2026, Fannie Mae and Freddie Mac issued Lender Letter LL-2026-03 and Guide Bulletin 2026-C — a coordinated update to how condominiums qualify for conventional financing. Some of the changes expand access to more buildings. Others will make it harder for some projects to qualify. And a few will affect what happens at closing.

Here’s a breakdown of what changed, what it means for buyers, and what questions to ask before you make an offer on a condo. These guideline changes also impact homeowners who are planning on refinancing their condo with a conventional mortgage. [Read more…]