Selling Guide

Published December 4, 2019

B4-2.2-04: Geographic-Specific Condo Project Considerations (06/05/2018)

This topic contains information on geographic-specific condo project considerations, including:

Florida — Attached Units in New and Newly Converted Condo Projects

PERS is required for new and newly converted condo projects consisting of attached units located in Florida. See B4-2.2-06, Project Eligibility Review Service (PERS).

Florida — Project Review Maximum LTV Requirements for Attached Units in Established Projects

The following tables describe the maximum LTV ratios that are permitted for the specific project review type for loans secured by units in condo projects located in Florida. Unless noted otherwise, these requirements are based on the LTV ratio of the mortgage loan.

Florida — Attached Units in Established Condo Projects

Maximum LTV Ratios2 Maximum LTV, CLTV, and HCLTV Ratios3
PERS Approved Full Review (with or without CPM) Limited Review
Principal Residence 95% Manual

97% DU

Second Home 90% 70/75/75%
Investor 85% 70/75/75%

Waiver of Project Review Requirements

The above requirements do not apply if the transaction is eligible for a project review waiver. See B4-2.1-02, Waiver of Project Review for additional information.

Related Announcements

The table below provides references to the Announcements that have been issued that are related to this topic.

Announcements Issue Date
Announcement SEL-2018-05 June 05, 2018
Announcement SEL-2017-04 April 25, 2017
Announcement SEL-2015–08 July 28, 2015
Announcement SEL-2015–06 May 26, 2015
Announcement SEL-2015–01 January 27, 2015
Announcement SEL-2014–13 November 10, 2014
Announcement SEL-2013–07 September 24, 2013
Announcement SEL-2011–01 January 27, 2011
Announcement 09–37 December 30, 2009
Announcement 08-34 December 16, 2008


Refer to the Eligibility Matrix for the maximum allowable CLTV and HCLTV ratios. (For example, a mortgage loan for a unit in a PERS-approved project can have a CLTV ratio up to 105% if it meets the Eligibility Matrix and Community Seconds requirements.)


The CLTV and HCLTV ratios in this column align with the maximum CLTV and HCLTV ratios that are permitted for projects outside of Florida, as described in B4-2.2-01, Limited Review Process.