Public association record. Owners and residents can join. Board members and managers can claim and update it.
Claim or joinIslamorada, FL
Fannie Mae and Freddie Mac keep a confidential list of condominium and co-op projects they will not finance. Lenders can see it; owners and boards generally learn a project is on it only at closing. We cannot see that list, and this page does not claim to. Instead, it maps the published eligibility factors lenders weigh onto what we can observe about Sand Pebbles of Islamorada, a Condominium A from public records, so the board can address them before a buyer's loan stalls.
These are risk factors and remediation steps, not a verdict. A factor marked “worth a look” is one underwriters scrutinize. It is not an accusation, and addressing it is no guarantee of eligibility. Factor catalogue: Fannie Mae Selling Guide B4-2.1 and Lender Letter LL-2021-14, Freddie Mac Guide Chapter 5701, and HUD FHA condominium project-approval rules.
We have an observation for 1 of 6 factors below. That is limited coverage: a factor with no observation is a data gap, not a clean result.
FHAWeighed
No FHA condominium approval record is matched to this association.
What lenders weigh
FHA-insured buyers can only use an FHA loan in an approved project. An expired, rejected, or absent approval narrows the buyer pool to conventional financing only.
What helps
If the project seeks FHA-eligible buyers, a board or management agent can apply for HUD project approval (HRAP) or use a single-unit approval. Confirm whether a record exists under a different project name.
FHA condo approval records (project approval list)
Fannie MaeFreddie MacContext
A structural integrity reserve study record is on file for this association.
What lenders weigh
Since 2022 the GSEs scrutinize structural integrity and reserve adequacy. A current structural reserve study is the document that answers the deferred-maintenance and reserve-funding questions in project review.
What helps
Keep the SIRS current (Florida requires a refresh at least every 10 years) and adopt funding that tracks its findings. A current, funded study is the strongest answer to the GSE reserve-adequacy question.
State structural-integrity filings (Fla. SB 4-D / SB 154 reserve studies)
Fannie MaeFreddie MacWeighed
No building-safety recertification record is matched to this association.
What lenders weigh
An overdue or required milestone/40-year recertification reads to underwriters as possible critical repairs or deferred maintenance — a temporary-ineligibility trigger until the recert is complete.
What helps
Confirm whether the building falls under a county recertification or Florida milestone-inspection requirement based on age and height, and keep any completed recertification documentation available for lender project review.
Building recertification records (county recertification and state milestone inspections)
Fannie MaeFreddie MacWeighed
No reserve study has been shared with Common Elements for this association.
What lenders weigh
The GSEs look for a budget that funds at least 10% to reserves or a reserve study supporting a lower amount. Underfunded reserves are a common non-warrantability reason.
What helps
Adopt a current reserve study and a funding plan that meets it. If the board shares the study here, this factor will reflect it. Reserve adequacy is one of the most frequently cited project-eligibility issues.
Common Elements member-shared reserve study (when the board shares one)
Fannie MaeFreddie MacFHAContext
No FEMA flood zone of record is matched to this association.
What lenders weigh
A project in a Special Flood Hazard Area must carry adequate flood insurance on the buildings. A lapse or gap in master flood coverage is a project-eligibility problem, not just a per-unit one.
What helps
Confirm the building's FEMA flood zone and, if it is in a high-risk zone, maintain master flood insurance meeting the replacement-cost requirement.
Federal flood-hazard maps (flood zone of record)
Fannie MaeFreddie MacHeavily weighed
We cannot observe active special assessments, critical repairs, or litigation from public records.
What lenders weigh
An active special assessment, ongoing critical repairs, or significant litigation is among the heaviest project-ineligibility triggers. Lenders ask about these directly on the project questionnaire.
What helps
Keep board minutes, the current questionnaire answers, and any repair-completion documentation ready. If a special assessment exists, documenting that the underlying repairs are funded and on schedule is what lenders look for.
Not in our public-record data — disclosed by the association on the lender project questionnaire
Common Elements is the always-on industry community for community associations, not a lender, and not management software. This panel is informational and built from public records plus what a board chooses to share. Confirm a project's actual financing eligibility with a lender and the association's own records.
Free, statute-cited calculators for Sand Pebbles of Islamorada, a Condominium A. No account needed.
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See also the Florida Condominium Act (Fla. Stat. Ch. 718).