Boston Condo Projects with More than 20% Commercial Space Miss on Fannie Freddie Loans

For Boston area condos, Fannie Mae & Freddie Mac don’t want more commercial influence than 20% of the total square footage. Another way to put it is that no more than 20% of a condominium project can be used for commercial space when getting a Fannie or Freddie mortgage. The reason is that commercial units may increase condo fees for other condo owners. That could increase foreclosure rates or decrease ability of past due owners to sell their units as needed.

Phil Ganz (354 Posts)

Philip D. Ganz is a Boston Mortgage Broker and Boston Home Loan specialist. For information, expertise, consulting, or advice about home loans, refinancing mortgages, or commercial property loans, contact Phil with no obligation: 617-529-9317

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