Florida Senate - 2026                            (NP)    SR 1794
       
       
        
       By Senator Rodriguez
       
       
       
       
       
       40-01862-26                                           20261794__
    1                          Senate Resolution                        
    2         A resolution urging the alignment of condominium
    3         lending guidelines among all states and eliminating
    4         the disproportionate down payment requirements that
    5         uniquely burden Florida homeowners.
    6  
    7         WHEREAS, the Federal National Mortgage Association, in its
    8  2025 Selling Guide, establishes that attached units in
    9  established condominium projects located in this state which are
   10  principal residences are subject to a maximum loan-to-value
   11  (LTV) ratio of 75 percent under a lender-limited review, and
   12         WHEREAS, that same guide allows attached units in
   13  established condominium projects located outside of this state
   14  to qualify for financing with a maximum LTV ratio of 90 percent
   15  under identical review criteria, and
   16         WHEREAS, condominiums are the most common form of attached
   17  dwellings and represent a path to first-time homeownership in
   18  many urban areas across this state, and
   19         WHEREAS, requiring a 25 percent down payment on such
   20  properties places homeownership beyond the reach of countless
   21  working families and young buyers, forcing them to delay or
   22  abandon their pursuit of the American Dream, and
   23         WHEREAS, these disproportionate and geographically
   24  selective lending restrictions have adversely affected millions
   25  of Floridians, constraining access to credit, limiting economic
   26  mobility, and reducing real estate market activity that fuels
   27  local economies, and
   28         WHEREAS, this disparate treatment has resulted in
   29  significant economic consequences, including diminished
   30  condominium sales, reduced property tax revenues, and lost
   31  opportunities for generational wealth creation throughout this
   32  state, and
   33         WHEREAS, the United States recognizes that equal access to
   34  credit is a cornerstone of fair housing, and the Civil Rights
   35  Act of 1866 guarantees equal rights to purchase and sell real
   36  property, and
   37         WHEREAS, the Fair Housing Act, the Equal Credit Opportunity
   38  Act, the Federal National Mortgage Association, and the Home
   39  Mortgage Disclosure Act prohibit discrimination in housing and
   40  lending practices based on geography or any other protected
   41  category, and
   42         WHEREAS, Floridians deserve the same equitable access to
   43  mortgage credit and homeownership opportunities afforded to
   44  citizens in all other states, NOW, THEREFORE,
   45  
   46  Be It Resolved by the Senate of the State of Florida:
   47  
   48         That the Federal Housing Finance Agency is urged to direct
   49  the Federal National Mortgage Association and the Federal Home
   50  Loan Mortgage Corporation to eliminate the increased down
   51  payment requirements imposed on Florida condominium buyers when
   52  requesting a lender-limited review of an established project,
   53  thereby ensuring parity and fairness in the housing finance
   54  system nationwide.
   55         BE IT FURTHER RESOLVED that copies of this resolution be
   56  dispatched to the President of the United States, the President
   57  of the United States Senate, the Speaker of the United States
   58  House of Representatives, and to each member of the Florida
   59  delegation to the United States Congress.