Fannie Mae and Freddie Mac finance nearly half of all U.S. home purchases. Recent changes to federal condo lending guidelines bring new flexibility to Pacific Northwest (PNW) communities—along with a major surge in reserve funding requirements. For condo boards across Washington and Oregon, taking proactive steps today is critical to maintaining financing eligibility and protecting [...]
At Pacific Crest Reserves, we help condominium and homeowner associations throughout the Pacific Northwest navigate the long-term financial and physical needs of their communities. Reserve studies are a critical planning tool—yet we regularly see well-intentioned boards make decisions based on common misconceptions that create major financial and maintenance hurdles down the road. Here are the [...]
If an association is deemed "un-mortgageable" (non-warrantable) by Fannie Mae or Freddie Mac, the impact is often immediate and structural, affecting everything from property values to the legal liability of the board. Because these two entities back the vast majority of conventional loans in the U.S., losing their stamp of approval effectively severs the community from [...]
Financing rules for condominium and homeowners associations are tightening in 2026. Updates from Fannie Mae and Freddie Mac are no longer just guidelines—they directly affect whether buyers in your community can obtain a conventional mortgage. For board members, this isn’t just a financial detail—it has real implications for buyers getting loans on units, property values, [...]
SB 5796 rewrites the rules for every homeowner association and condominium in Washington State. Here's what board members and association managers need to know — and do — before January 1, 2028. If you serve on an HOA or condominium board in Washington State, a major legal deadline is approaching. On January 1, 2028, Senate [...]
The Washington State Legislature has accelerated the application of the Washington Uniform Common Interest Ownership Act (WUCIOA) for all existing Homeowner and Condominium Associations in the Pacific Northwest. This means that compliance with significant new requirements for meetings, governance, and transparency is now mandated by January 1, 2026—two years earlier than originally scheduled. As your [...]
Preserving Property Value Property value in an association-governed community depends on more than market trends or location. It relies heavily on how well shared infrastructure is maintained. When amenities decline, resale values follow. A reserve study protects against that downward slide by ensuring necessary repairs and replacements are adequately funded and timed. Deferred maintenance signals [...]
Property owners in Skagit, Island and Whatcom counties, take note: significant changes are on the horizon for how common interest communities operate, with many new provisions of the Washington Uniform Common Interest Ownership Act (WUCIOA) set to take effect sooner than anticipated. This impacts condominiums, plat communities, and other homeowner associations (HOAs) across our region, [...]
Thinking about buying a condo in Washington? While a condo can be a great option, monthly dues can be significant concern. Here is a guide a buyer can use to help evaluate the association and the impact that will have if they become an owner. How to Choose a Financially Stable Condo Community Let's focus [...]
Securing a mortgage for a Washington condo requires more than just good credit and income. Fannie Mae, the major buyer of mortgages, has strict guidelines that impact loan availability. One key factor for Fannie Mae approval is the condo association's reserve study. A Washington state reserve study analyzes upcoming expenses for major repairs and replacements [...]
