The lender reviews the condominium as well as the borrower.
A buyer may have good credit and sufficient income, yet the lender still needs information about the condominium project before approving financing. A condominium questionnaire organizes that information. It may also be requested when an existing owner refinances.
For a board, this is a request for verified association facts—not a request to approve the buyer’s mortgage or guarantee the building’s condition.
Three documents. Three different purposes.
| Document or decision | Purpose | What it does not establish |
|---|---|---|
| Condominium lender questionnaire | Provides project and association information for the lender’s financing review. | It does not approve occupancy or guarantee the loan. |
| Estoppel certificate | Provides the statutory assessment/account information and other required details for a particular unit transaction. | It does not replace the lender’s broader project review. |
| Association buyer approval / Certificate of Approval | Addresses the association’s purchase approval process under applicable documents and procedures. | It does not establish mortgage eligibility. |
A sale may involve all three. Completing one does not automatically satisfy the others.
What information may be requested?
Depending on the lender and review type, questions may address project identity, units and ownership, finances, reserves, delinquencies, insurance, litigation, inspections, repairs, special assessments, and amenities or related obligations.
Fannie Mae publishes Form 1076, also identified as Freddie Mac Form 476; lenders may use other forms. Fannie Mae describes its questionnaire as optional and permits substantially similar forms. Optional use of that particular form does not mean a lender must proceed without the information needed for its review.
Ask the requesting lender for its current form, required attachments, due date, and clarification of ambiguous questions. Review standards change, and different loan programs or lenders may apply different requirements.
Who should complete and sign it?
Use an authorized association representative or the property management company acting within its assigned responsibilities. The board should establish who coordinates responses, who verifies information, and who is authorized to sign.
- Manager or designated coordinator: gathers records, tracks the request, and prepares supported answers.
- Board: supplies current decisions and confirms that the process and authorization are appropriate.
- Insurance professional: verifies policy details, limits, deductibles, and requested coverage information.
- Association attorney: reviews litigation disclosures, unclear certifications, liability concerns, and questions requiring legal interpretation.
- Engineer or other qualified professional: supplies the relevant report or clarification for technical building questions.
The seller or agent can help route the request. Their involvement does not replace an authorized association response where the lender requires one. Ask questions about the lender’s form directly to its identified contact.
Century Village: identify the correct association and project.
Start with the legal name and governing documents for the association containing the unit. Do not substitute village-wide statistics for the requested association’s figures, or treat a subdivision name as proof of the legal project boundaries.
The lender should determine the appropriate scope of its project review. If a question reaches beyond your association, explain the limitation and obtain clarification rather than guess.
Century Village transactions may also require clarification of recreation arrangements, leases, or services involving UCO and WPRF. Provide applicable documents and seek the relevant organization’s verified information when needed. Do not assume either organization can certify your association’s finances or building condition.
A practical response workflow
- Log the request. Record the unit, requester, lender contact, requested documents, due date, and authorization needed to release information.
- Confirm responsibility and any fee. Review the management agreement and association policy. Do not assume an estoppel fee limit or deadline automatically applies to this separate service; have counsel confirm authority and applicable limits.
- Assemble current records. Gather the relevant budget, financial reports, policies, inspection information, meeting decisions, and other requested support.
- Verify each answer. Note its source and date. Ask for clarification when definitions, percentages, or project boundaries are unclear.
- Review sensitive or technical statements. Obtain appropriate professional input before signing unfamiliar certifications.
- Return securely and retain a copy. Keep the completed form, attachments, supporting references, and follow-up correspondence in the appropriate association records, protecting confidential information.
Maintain a reusable factual reference file, but refresh it for each request. A previous lender’s completed questionnaire is a starting point, not a permanent certification.
Accuracy matters more than an easy “yes.”
A lender may ask about repairs, inspection findings, special assessments, or other conditions affecting financing. Use actual records and qualified professional reports.
- Do not infer that a building is structurally sound simply because it looks well maintained.
- Do not conceal a pending issue to help a sale close.
- Distinguish a proposed project from approved work, and scheduled repairs from completed repairs.
- If information is unavailable, state that limitation and ask what documentation the lender will accept.
- Read any signature certification carefully; seek counsel’s review if it requires conclusions beyond the signer’s knowledge or authority.
These are recommended response practices. They do not replace the association’s specific legal obligations or the lender’s underwriting requirements.
What if financing is delayed or declined?
The lender determines loan and project eligibility. A completed questionnaire does not guarantee approval, and one lender’s decision does not necessarily describe every financing option.
Ask the lender to identify the missing information or specific issue. Correct factual errors with supporting records. If the issue concerns association operations, bring it to the board for review and appropriate professional advice.
Owners who pay cash can still benefit from an organized response process: future buyers or refinancing owners may need financing.
Related Board Synergy resources
Official resources
Reviewed October 17, 2026. Use the lender’s current instructions. This is general board education; consult association counsel about disclosure obligations, fees, and certifications for a particular request.
Keep an answer-and-source review log
For each request, record the lender, form version, unit and legal project identified, receipt date, requested return date, coordinator, authorized signer, and attachments. Map important answers to a dated source rather than copying a prior response without review.
- Match budget and reserve answers to the adopted budget and current records.
- Ask the insurance professional to verify policy questions and endorsements.
- Use the actual inspection or professional report for building-condition questions.
- Route litigation, disclosure, and unfamiliar certification questions to counsel.
- Retain the signed response, supporting documents, clarifications, and any corrected version sent.
If new information changes an answer before the transaction is complete, notify the coordinator promptly and obtain advice about an appropriate correction. Keep a record of what was sent and to whom.
See 2027 mortgage reserve standards for the upcoming percentage change and earlier review changes. Ask the lender which current standard applies; a questionnaire is an information-gathering tool, not a substitute for the lender’s eligibility analysis.
Use contact and access updates to transfer this responsibility when the board or manager changes. UCO or WPRF may supply information about their own arrangements, but their role does not authorize them to certify the association’s finances or structural condition.
Connected financial and community resources
Authority matters: Florida law establishes statutory duties; governing documents define association authority subject to law; contractual duties come from applicable agreements. UCO procedures address separate UCO functions. The added registers and workflows are Board Synergy recommended practices, not prescribed statutory forms. Historical articles provide background rather than current legal instructions.