Enter five numbers from the reserve study and the budget. Get a yes/no for both Fannie Mae tests, your state's rule, and the cost per unit to close any gap. Free check. Full report $149.
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Applications from
The association's budget must include the reserve study's highest recommended reserve contribution. The "baseline" method, where reserves are allowed to fall toward zero, is no longer accepted for project eligibility.
Test 1: budgeted reserve contribution ≥ study's highest recommended contribution
Applications from
Reserves must be at least 15% of annual budgeted assessment income (up from 10%) unless a qualifying reserve study is used.
Test 2: reserve contribution ÷ budgeted assessment income ≥ 0.15
Source: Fannie Mae Lender Letter LL-2026-03. Freddie Mac alignment noted where confirmed.
Most state laws let a board fund less than the mortgage tests require. A building can be fully legal and still leave its owners unable to sell to a buyer with a conventional loan. ReserveGap shows both so the board sees the whole picture.
Reserve-study statutes today
Florida and New Jersey rules are built in; other states show "no state minimum" with a citation.
One page a director can hold at the meeting: the gap, four ways to fund it, and what each costs per unit by ownership share.
Free check
Yes/no for both tests and your state's rule
Report $149
Dollar shortfalls, state rule, three funding options, 10-year cash
Report + Owner PDF $299
Adds the per-unit table by ownership % and a printable owner-facing PDF
One-time, per building. No subscription.
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