Condo Approval · Highland Mortgage
For Real Estate Agents

Condo Approval Let’s Clear The Building.

The condo questionnaire normally lands in the middle of underwriting — weeks into the deal, when there’s no runway left to fix what it turns up. Send us the association’s documents now and Highland reviews the project up front, so you know whether the building clears before it costs you a closing date.

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Before You Start

Three documents Get You Moving.

The review is only as thorough as the paperwork behind it. Request these three from the association or its management company before you open the form — the seller can obtain all of them at no cost, so this costs your client nothing but a phone call. Missing one? Send what you have and we’ll chase the rest.

01

Current Budget

The association’s adopted operating budget for the current year. We look at reserve contributions and whether dues realistically cover the building’s obligations.

02

Most Recent Balance Sheet

A current statement of the association’s assets and liabilities. This shows reserve balances, delinquencies, and any debt the project is carrying.

03

Certificates of Insurance

Master hazard, liability, and where applicable flood and fidelity coverage. Coverage limits are one of the most common reasons a project stalls.

Also good to know: whether the association is involved in any active litigation, and whether the condo carries a recreational lease or other mandatory membership. The form asks both — a “yes” isn’t a dead end, it just changes which programs fit.

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Submit a Project

Condo Approval Request Form.

Fourteen quick questions, one at a time. Upload what you have, tell us about the property, and the Highland Loan Officer you’re working with takes it from there. Two minutes now, weeks of runway later.

Secure Submission

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Why condo deals fall apart late
A condo buyer is buying into a shared financial structure, so every lender reviews the project alongside the borrower. That review runs on a questionnaire sent to the association during underwriting — and associations are not known for fast replies. By the time an underfunded reserve or an insurance gap surfaces, you’re often days from closing with a fully qualified buyer and nowhere to go. Running it up front turns a deal-killer into a solvable problem.
A warrantable condo meets conventional agency guidelines — owner-occupancy ratios, reserve funding, insurance coverage, no disqualifying litigation, no single owner holding too many units. A non-warrantable project misses one or more. That is not a “no.” It means the deal routes to portfolio and specialty programs built for exactly that situation. Knowing which bucket a building sits in tells you which buyers to market it to — and stops you from accepting an offer the financing was never going to support.
The budget shows whether dues cover operations and whether reserves are being funded at the level agencies expect. The balance sheet shows what’s actually in those reserves, plus delinquencies and association debt. The insurance certificates confirm the master policy limits actually protect the building — and the lender’s interest in it. The thoroughness of the review depends on the documentation received, so more is better.
Your submission goes straight to the Loan Officer you named on the form and to Highland’s condo review team. We read the package, flag anything missing, and come back to you with where the project stands and which loan programs it qualifies for. If something still needs to be pulled from the association, we’ll give you the exact language to request it — no guessing, no back-and-forth through your client.
Listing agents: at the time you take the listing. Walking into it knowing the building clears — or knowing exactly what to disclose — is a real differentiator in a listing presentation. Buyer’s agents: before your client writes on a unit, or the moment you go under contract. Either way you’ll be asked which Highland Loan Officer you’re working with, so the review lands with the right person. Not working with one yet? Find a Loan Officer first, then come back and submit.

Working a condo Listing?

A Highland Loan Officer can tell you in one conversation whether a building is likely to clear — and what to do if it doesn’t. Bring us the tough ones early and we’ll keep your closing date where it belongs.

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