Troubling Times For Condo Owners – I expect you will have frantic sellers [of condo units] pushing management companies" to get their buildings approved. The eligibility issue dates back to November 2009, when FHA published new rules.
Dear Robert, Yes, it is true that you need FHA approval of your condo association to obtain a reverse mortgage through FHA. To facilitate this, you may have to attend a board meeting and voice.
FHA-Approved Communities. The U.S. Department of Housing and Urban Development, the parent agency of the FHA, maintains a list of FHA-approved condo communities.
Condo buildings already approved by the Department of Veterans Affairs for buyers using VA loans get fast-tracked through the FHA condo approval process. To approve an existing VA-approved condo.
FHA Approved Condos | Find in 3 Easy Steps | SuperMoney! – You may already know that the federal housing administration (FHA) helps buy a home, as about one-fifth of home purchase transactions are by FHA loans. Therefore, it is pertinent to know about the process to find fha approved condos. But can you use an FHA loan to buy a condo? Yes, absolutely. However, not all condos will qualify.
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Home – Condo Approval Professionals – Condo Approval Professionals is a full service company that provides project approvals for all government agencies. We are currently involved in numerous project approvals through multiple agencies, including FHA, Fannie Mae, Freddie Mac, and VA.
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The condo complex must be approved by FHA. This requires an extensive package of documents sent to and approved by FHA. Searching the FHA Approved Condo List. Before you make an offer on a condo, you need first visit FHA’s website that lists currently approved condominium projects. Try searching by the condo’s name first.
FHA Review – FHA Condo Approval Made Easy – VA and FHA Condo Approval Process (2019) FHA Review is an independently owned and operated corporation. It is not an agency of the United States Government and is not contracted by the Department of Veterans Affairs, or the Department of Housing and Urban Development, or their affiliates.
That will give you a choice of far more condominium projects than you will find on the FHA list of approved projects. Ask the condo association or your lender to get FHA approval. Though it never hurts to ask, this idea will likely be shot down quickly. It takes reams of documentation, and weeks of review by the FHA, for a project to be approved.
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