Limited Review Eligibility Requirements

In completing a Limited Review, the lender must ensure that the project and subject unit meet the eligibility requirements described in the following table.

	The project meets the Requirements Applicable to All Properties in a Condo, or PUD Project described General Information on Project Standards.
	The project is not an ineligible project. (See Ineligible Projects).

If the project and loan transaction are eligible for and meet all of the eligibility requirements of the Limited Review process, the underwriter is not required to validate that the project also meets the eligibility requirements of another project review type. However, if the LTV, CLTV, or HCLTV ratios exceed the limits above, or in the event the underwriter becomes aware of a circumstance that would cause the project or transaction to be ineligible under a Limited Review, the underwriter must use one of the other project review methods to determine project eligibility and the project must meet all of the eligibility requirements of that selected alternate project review type.