Florida HB 913 baseline funding vs the mortgage reserve tests

Florida reserve funding and lender project review use different standards. ReserveGap separates a limited reserve-cash model from annual contribution comparisons. Neither result determines the property’s legal status or mortgage eligibility.

What HB 913 permits

For buildings of three or more habitable stories, the association's reserve funding plan may use a baseline: the projected reserve balance must stay above zero in every year of the study period. The plan funds what the schedule needs to avoid a deficit, rather than a fixed percentage.

Baseline funding is a real discipline — the projection has to work, year by year, against the study's component schedule. What it is not is full funding: the balance is allowed to run down toward zero ahead of major replacements.

What the mortgage tests require

Fannie Mae's Lender Letter LL-2026-03 sets a different bar for project eligibility. For applications dated on or after August 3, 2026, a lender using the study pathway checks the study’s highest recommended contribution — and the letter names baseline funding as not accepted for that study-based alternative. From January 4, 2027, Full Review uses a 15%-of-assessment-income benchmark, unless a qualifying study is used.

Reading both at once

Read the annual comparisons separately from the cash projection. Meeting a modeled balance threshold does not establish that every state obligation is met. A lender determines which project-review pathway applies. Per-unit illustrations support a discussion; they do not adopt a funding method.

The milestone pause

For budgets adopted on or before December 31, 2028, the statute provides a limited pause for qualifying associations funding milestone repairs. Conditions include a milestone inspection within the previous two calendar years and a majority of total voting interests. Ownership-control exclusions and further study requirements apply. Counsel must evaluate those conditions, including the two-budget limit and a new study before contributions resume; this calculator does not model a pause.

Run both against your budget

The figures below show two annual comparisons. The full report adds a ten-year cash illustration, whose zero floor is weaker than Florida’s above-zero baseline goal. The check runs in your browser and your numbers stay on this device.

What the budget collects this year ($)

$

Enter the assessment-income base from the budget. Lender-permitted exclusions are not calculated here.

What you're putting into reserves this year ($)

$

Current annual reserve contribution — the reserve line in this year's budget.

Highest amount the reserve study says to put in ($)

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Highest recommended annual contribution — the largest funding schedule in the study. If it shows one schedule, use that.

Cash sitting in reserves today ($)

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Reserve cash on hand — all reserve accounts, as of a stated date.

State

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Florida's rule is built in. The state-rule check on the paid report needs the study's component schedule.

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Read the highest recommended contribution and baseline funding alongside the state comparison, then compare funding methods and their assumptions. Use the free condo reserve calculator with your own figures.

For the broader framework, read Florida condo reserve requirements: studies, funding and lender review.