The new FNMA guidelines under the Dodd-Frank Act can make it very difficult to finance some condos, especially those that have high investor ratios or have inadequate reserves or master insurance policies. The new law requires lenders to review a detailed "condo questionnaire" which means that the buyer is not the only one who must qualify. If the condo does not meet the new rules, then the loan will be denied. It should also be noted that some associations charge a fee to complete the questionnaire. Make sure your loan pro has a handle on these issues before making application for loan. I have a list of lenders who can do portfolio loans on non-FNMA compliant condos.