Fannie Mae is a beneficial alternative to government insured projects, they offer their Project Eligibility Review Service (PERS). PERS is a review service available for lenders to submit project information to Fannie Mae for review and approval. As the industry continues to change options for condo approvals are valuable. Fannie Mae offers a comprehensive overview of their PERS requirements, a getting started guide and a list of projects that are currently approved.
Use the instructions below to take the first step by checking if your condo project is currently Fannie Mae approved.
- Click here to go to the Fannie Mae website, it will bring straight to the Condo, Co-op, and Planned Unit Development (PUD) Eligibility page
- From here you can explore all of the tools and guides that Fannie Mae has to offer, each designed to assist you in getting your condo FHA approved
- Locate the Project Eligibility Review Service section, second topic from the top
- Select the PERS Approved Project List
- Next, select the state in which your project resides
- Simply hold down ctrl + F to populate a search bar in the right corner
- Next, type in the city or project name you are inquiring about to see if it is referenced on the approved list