Condos · 6 min read
Can I get a mortgage on a condo?
June 29, 2026 · Written by Bill Egan, NMLS 7342
Short answer
Yes, if the building can pass the investor’s review. Lenders look at the homeowners association as much as they look at you — the budget, how many owners live there, commercial space, lawsuits, and special assessments. A beautiful unit in a troubled building is often not financeable on regular terms.
01
Why this comes up
You already love the unit. Earnest money is about to go hard, and nobody can tell you if the building will pass a lender’s review. That is the panic.
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Where this goes wrong
It rears up after earnest money is hard: the association has too many rentals, a pending special assessment, a lawsuit, or insurance the investor will not accept. The loan cannot close on that building. You either walk from the deposit or scramble for a different product that still may not work.
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What we do about it
We underwrite the association with the buyer. Budget, insurance, owner-occupancy, lawsuits, and assessments get pulled early — not the week of closing. If the building is the problem, we say so before you are stuck guessing with a deposit.
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How to get ready
Ask for the HOA questionnaire, budget, insurance certificate, and any assessment notice with the contract. Do not wait for the listing agent to “handle it later.” A beautiful unit in a troubled building is often not financeable on regular terms.