EquitySense
For condo & HOA owners in all 50 states

Understand your building’s reserve report before the bill arrives.

EquitySense reads your association’s reserve study and inspection reports, then explains them in plain English. It shows how well-funded your building is, which deadlines your state sets, and what mortgage lenders now look for.

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14 states
now require condo reserve studies or reserve reviews, and 8 more have reserve funding laws
15%
of a building’s budget for reserves: Fannie Mae’s new minimum for most condo loans starting Jan 4, 2027
373,000
community associations in the U.S., home to 78 million people

Reserves used to be the board’s problem. Now they’re every owner’s.

Since the 2021 Surfside collapse, states have tightened reserve and inspection laws. In 2026, the mortgage market caught up. Fannie Mae and Freddie Mac now look closely at a building’s reserves before approving loans on its units, in every state. A reserve study now affects whether you can sell or refinance.

2022–2025

Florida requires structural integrity reserve studies and milestone inspections. New Jersey, Maryland and others add reserve study and funding rules.

Aug 3, 2026

Fannie Mae retires its “Limited Review” for condo loans. More loans now require a full review of the building’s finances and reserve study.

Jan 4, 2027

The minimum reserve allocation rises from 10% to 15% of the budget, unless the building follows its reserve study’s highest recommended funding level.

Three rules that affect your building

People mix these up all the time. In plain English:

1

“What will we need to fix, and when?”

Reserve study laws

Your association must hire a professional to inspect the roof, elevators, plumbing and other big items. The study estimates how long each will last, what replacing it will cost, and how much to save each year.

Set by: your state. Where: 14 states.

2

“Are we actually saving the money?”

Reserve funding laws

Rules about putting money aside: a reserve fund must exist, part of the budget must go into it, or it must be shown to owners. Some states or cities also require building inspections. A study alone doesn’t fund anything.

Set by: your state or city. Where: varies; many study states have funding rules too.

3

“Will a bank lend on a unit here?”

Lender review

Before approving most mortgages on a condo unit, lenders check the building’s budget and reserves against Fannie Mae and Freddie Mac standards. From January 4, 2027, Fannie Mae expects most condo buildings to put at least 15% of their budget into reserves (or the study’s full recommended amount). If the building falls short, buyers may struggle to get a conventional loan, which can affect your sale price.

Set by: the mortgage market, not law. Where: all 50 states.

The short version: a study tells your building what it needs, funding rules make sure money is set aside, and lenders check both before they’ll finance a unit. Even in a state with no reserve law, lender review still applies.

What does your state require?

Every state handles reserves differently. Pick yours for a plain-English summary. These are general summaries, current as of October 2026, and not legal advice.

In every state: Fannie Mae and Freddie Mac review a condo building’s reserves before most mortgages on its units are approved.

14

Reserve study laws

State law requires reserve studies or regular reserve reviews. EquitySense tracks your state’s specific cycles and deadlines.

8

Reserve funding laws

Reserves are required or expected, or local inspection rules apply, but no reserve study is required (yet).

29

All other states

No state reserve study law, but many associations still commission reserve studies, and lenders review reserves nationwide.

What EquitySense does

Upload what your association already gave you. We handle the translation.

1

Decode the report

Upload your reserve study, SIRS, or inspection report. You get a plain-English summary of how funded your building is, which components need attention, and what that means for owners.

2

Track what’s coming

Inspection cycles, reserve study renewals, and board votes, based on your state’s rules and your own documents. Reminders come 90, 30, and 7 days ahead.

3

See what lenders see

Learn how your building’s reserves compare with what Fannie Mae and Freddie Mac look for, so selling or refinancing doesn’t bring a surprise.

Simple pricing

Start free. Upgrade when you want the full picture.

Free

$0
  • Store one report
  • Top-line funding summary
  • Your state’s rules at a glance
  • 3 AI Guide questions a month

Owner

$9.99 / month
or $89.99 / year
  • Full report analysis, every report
  • Compliance calendar + reminders
  • Unlimited AI Guide
  • One property

Portfolio

$24.99 / month
or $249.99 / year
  • Everything in Owner
  • Up to 10 properties
  • Priority support

Planned launch pricing. 7-day free trial on paid plans. Cancel anytime.

Questions

Is this legal or financial advice?

No. EquitySense explains what your documents and your state’s laws say, in plain language. For decisions about your property, talk with a licensed attorney, engineer, or financial advisor.

My state doesn’t have a reserve study law. Is this still useful?

Yes. Many associations commission reserve studies anyway, and mortgage lenders now review reserves in every state. If your association has a reserve study, budget, or inspection report, EquitySense can explain it.

What documents can I upload?

Reserve studies, Florida SIRS and milestone inspection reports, structural or facade inspection reports, and association budgets or financial disclosures, as PDFs. Scanned documents work too.

Is my information private?

Yes. Your documents are stored encrypted and are visible only to your account. We never share your reports or property details with your association, other owners, or anyone else.

Where does the state information come from?

From each state’s statutes, regulator guidance, and recent legislation, reviewed in October 2026. Laws in this area change often, so we re-check them regularly and link to the official source in the app.

Your building already has the answers. We’ll help you read them.

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