Manage your risk with Coverwatch
Get a free coverage review and find out where you are over or under insured.
The condo questionnaire a buyer's lender sends your association asks surprisingly little about insurance. Its insurance section on Fannie Mae Form 1076 (Freddie Mac's Form 476) covers flood zones, financial controls, and carrier and policy numbers. Your broker's evidence of insurance proves the rest.
So every condo insurance questionnaire splits into two jobs. The manager answers the form, and the broker supplies the proof. Below you'll find a line-by-line guide, a who-supplies-what table, and the answers that stall a loan in 2026.
The condo questionnaire's insurance section is Section VI of Fannie Mae Form 1076. It first asks whether units or common elements sit in a flood zone. It then lists six financial controls. Finally, it asks for the carrier, agent phone, and policy number for hazard, liability, fidelity, and flood coverage.
That's the whole section, and it has no line for the deductible, the policy limit, or replacement cost. The December 2021 addendum covers building safety, reserves, and special assessments. It adds no insurance questions.
Section VII asks for the preparer's name, title, company, phone, email, and the date completed. Whoever fills in that block owns the answers above it.
Every insurance line on Form 1076 should trace to a document you can attach. The flood answer comes from the FEMA flood map and the flood declarations. A financial-control box gets checked only when bank records prove it. Each carrier row needs the carrier, an agent phone, and the policy number from current declarations.
Pull the FEMA flood map first. If any building sits in a Special Flood Hazard Area (zones starting with A or V), check Yes. Then pick the box that matches the master flood declarations, usually a Residential Condominium Building Association Policy (RCBAP) from the National Flood Insurance Program (NFIP). Under Selling Guide B7-3-06, the building limit must reach the lesser of 80% of replacement cost or the NFIP per-unit maximum.
These six boxes set the fidelity minimum. Under Fannie Mae B7-4-02, an association following one or more listed controls needs coverage of three months of assessments on all units. Without them, the floor is the most cash the HOA or its manager ever holds. The companion guide shows how the fidelity limit math works.
The form tells preparers, in capitals, to not enter "contact agent." Check the renewal date before copying anything, since an expired policy number sends the file back. If fidelity isn't required (Fannie waives it for projects of 20 units or fewer), write that reason in the row.
The form is addressed to the HOA or its management company, so the manager is usually who fills out a condo questionnaire. Your insurance broker supplies the evidence and confirms policy numbers. Behind both sits the board, which decides who signs reserve checks and which deductible the association buys at renewal.
| Item | Who supplies it | Who checks or signs |
|---|---|---|
| Flood answer and flood amount | Manager, from the flood map and declarations | Broker confirms the flood policy limit |
| Financial-control checkboxes | Manager, from bank and management records | Board confirms dual signers and separate accounts |
| Carrier, phone, and policy numbers | Manager, from current declarations | Broker confirms each policy is in force |
| Evidence of master property insurance (ACORD 28) | Broker | Manager attaches it to the return |
| Liability certificate (ACORD 25) and fidelity evidence | Broker | Manager attaches them |
| Addendum on safety, reserves, and assessments | An authorized HOA representative | Board approves the answers |
| Deductible amount and structure | Board, at renewal | Broker shows it on the evidence |
| Section VII preparer block | Whoever completed the form | Preparer signs as the source |
Fannie Mae's B4-2.1-01 names management companies and insurance professionals as sources lenders use, and it holds the lender responsible for their accuracy. So a vague answer earns a follow-up email. Our page for management firms covers the firm's own coverage.
A completed condo questionnaire only identifies the policies. Fannie Mae's evidence rule, B7-3-07, goes further. The lender must obtain the current master policy or a certificate showing the unit is covered. That evidence, usually an ACORD 28 from the broker, is where the deductible, limit, and valuation actually appear.
ACORD describes its 27 and 28 forms as evidence certificates for parties with a financial interest in the property, usually lenders. The ACORD 28 is the commercial version, which fits a master property policy. ACORD also states that a certificate does not change the policy's terms, so expect the lender to follow the policy whenever the two documents disagree.
One more distinction trips managers up. Fannie doesn't require the master policy to name the buyer's lender as mortgagee (B7-3-08). Many lenders still ask that the certificate list the borrower, unit, and loan number, so the broker issues one per closing. Whether the policy is bare walls, single entity, or all-in also comes from the policy wording.
Seven answers on the condo questionnaire or its evidence commonly stall a loan in 2026. The biggest are a per-unit deductible above $50,000, a missing fidelity policy, and buildings insured at actual cash value. The rest involve replacement cost, flood, liability limits, and incomplete carrier rows.
The full Fannie Mae condo insurance requirements cover the whole rule set. Our guide to what makes a condo non-warrantable explains when one failure sinks the entire project.
Here is a hypothetical 64-unit condo questionnaire, worked line by line. The association bills $450 a month per unit and follows the separate-account and dual-signature controls. Its buildings sit in flood Zone X, and its named-storm deductible is 3% of each unit's value. Two lines need math.
The questionnaire never asks about that deductible, but the ACORD 28 shows it. Because the policy has a per-unit deductible, LL-2026-03 also requires the buyer to carry a unit-owner (HO-6) policy. The guide to loss assessment coverage versus the master deductible explains how owners insure that share.
Fill out the Fannie Mae condo questionnaire, Form 1076, in its December 2021 edition with the addendum. The Freddie Mac condo questionnaire, Form 476, is the same document. The short form, Fannie 1077 or Freddie 477, is out of date. Freddie retired Form 477 in December 2021, and Fannie's current forms library lists only Form 1076 and its Spanish version.
Limited Review, the lighter review path the short form served, ends for Fannie applications dated on or after August 3, 2026. Got a Form 1077 anyway? Answer it, then ask the lender whether it needs the full form.
Expect lender-drafted versions too. Fannie's B4-2.1-01 calls Form 1076 optional and adds that "a substantially similar form may also be used in its place." Some of them add deductible and limit lines. I'd answer them only with the evidence of insurance open beside you (a habit worth keeping for every closing).
If a lender has flagged your deductible or fidelity line, Coverwatch can check the declarations against the 2026 tests before the next closing. For the coverage itself, start with condo association insurance.
The management agreement and state law decide what the association or its manager may charge. Form 1076 itself sets no fee. Who ultimately pays is a term of the sale, so ask the lender or title company how the charge will appear at closing.
An HOA lender questionnaire arrives with a return date the lender writes at the top of Form 1076. Form 1076 sets no deadline of its own. The buyer's rate lock and closing date drive the urgency, so keeping current insurance evidence on file is what makes a fast return possible.
Attach it, but fill in the table too. Form 1076 tells preparers not to write "contact agent," and a blank row reads the same way to an underwriter. The certificate then backs up the policy numbers you entered.
No. <strong>Fannie Mae B7-4-02</strong> requires a fidelity/crime policy that names the association as insured and covers the management agent's acts. The manager should carry its own policy too, but it can't stand in for the association's.
August 19, 2026
ExplainersThe insurance a condo project needs to meet Fannie Mae's 2026 standards: master policy, liability, the new $50,000 per-unit deductible cap, and reserves.
10 min read
October 6, 2026
ComparisonsWhich master-policy failures make a condo non-warrantable in 2026, how Freddie Mac, FHA and VA differ, and how an HOA board fixes the policy.
9 min read
October 7, 2026
ExplainersFannie Mae condo reserve requirements rise from 10% to 15% of assessment income for 2027 loan applications. The math, the dates, and the insurance angle.
7 min read
October 7, 2026
How-ToHow to calculate the fidelity limit Fannie Mae, Freddie Mac, and FHA require, with the controls exception, reserves, and a worked 140-unit example.
8 min read
Fill out the form and a Coverwatch advisor will get back to you within the next hour.
Your quote
