FAQ’s Condo Review

Frequently Asked Questions

FAQ’s Condo Review

Condo review requirements:
5th Street requires a condo questionnaire completed by the HOA on all loans where the property type is a condo.  Below are FAQ’s.

Who needs to order the questionnaire?
The broker should order the questionnaire

Does 5th Street require their form to be used?
We do not require our form to be used, we accept any form

Does 5th Street require the short or long form?
We require the long form on investment property transactions, all other transaction types can use the short form

Does 5th Street need the bylaws and budget?
We do not require the bylaws and we only require the budget if the reserves within the HOA are deemed too low after the underwriter reviews the project