THE BILL ITSELF
SR 1794
Condominium Lending Guidelines
Florida Senate - 2026 (NP) SR 1794 By Senator Rodriguez 40-01862-26 20261794__
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Senate Resolution
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A resolution urging the alignment of condominium
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lending guidelines among all states and eliminating
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the disproportionate down payment requirements that
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uniquely burden Florida homeowners.
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WHEREAS, the Federal National Mortgage Association, in its
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2025 Selling Guide, establishes that attached units in
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established condominium projects located in this state which are
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principal residences are subject to a maximum loan-to-value
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(LTV) ratio of 75 percent under a lender-limited review, and
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WHEREAS, that same guide allows attached units in
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established condominium projects located outside of this state
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to qualify for financing with a maximum LTV ratio of 90 percent
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under identical review criteria, and
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WHEREAS, condominiums are the most common form of attached
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dwellings and represent a path to first-time homeownership in
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many urban areas across this state, and
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WHEREAS, requiring a 25 percent down payment on such
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properties places homeownership beyond the reach of countless
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working families and young buyers, forcing them to delay or
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abandon their pursuit of the American Dream, and
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WHEREAS, these disproportionate and geographically
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selective lending restrictions have adversely affected millions
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of Floridians, constraining access to credit, limiting economic
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mobility, and reducing real estate market activity that fuels
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local economies, and
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WHEREAS, this disparate treatment has resulted in
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significant economic consequences, including diminished
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condominium sales, reduced property tax revenues, and lost
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opportunities for generational wealth creation throughout this
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state, and
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WHEREAS, the United States recognizes that equal access to
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credit is a cornerstone of fair housing, and the Civil Rights
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Act of 1866 guarantees equal rights to purchase and sell real
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property, and
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WHEREAS, the Fair Housing Act, the Equal Credit Opportunity
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Act, the Federal National Mortgage Association, and the Home
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Mortgage Disclosure Act prohibit discrimination in housing and
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lending practices based on geography or any other protected
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category, and
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WHEREAS, Floridians deserve the same equitable access to
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mortgage credit and homeownership opportunities afforded to
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citizens in all other states, NOW, THEREFORE,
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Be It Resolved by the Senate of the State of Florida:
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That the Federal Housing Finance Agency is urged to direct
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the Federal National Mortgage Association and the Federal Home
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Loan Mortgage Corporation to eliminate the increased down
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payment requirements imposed on Florida condominium buyers when
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requesting a lender-limited review of an established project,
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thereby ensuring parity and fairness in the housing finance
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system nationwide.
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BE IT FURTHER RESOLVED that copies of this resolution be
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dispatched to the President of the United States, the President
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of the United States Senate, the Speaker of the United States
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House of Representatives, and to each member of the Florida
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delegation to the United States Congress.