February 1, 2016 – In November of 2015, the FHA and HUD ran a press release on the official site (www.fha.gov) announcing temporary guidance making it easier to get a condo project added to the approved list for an FHA mortgage loan.
Under the revised guidelines – which take effect oct. 15, 2019 – an individual condo unit in a building of 10 units or more may be eligible for spot approval if no more than 10% of the units are.
Condominium project approvals will expire two years from the date of placement on the FHA-approved condo list. Every two years the project needs to be re-certified to confirm that it is still in compliance with HUD requirements.
FHA Eases Condo Approval Guidelines – February 1, 2016 – In November of 2015, the FHA and HUD ran a press release on the official site (www.fha.gov) announcing temporary guidance making it easier to get a condo project added to the approved list for an FHA mortgage loan.
Condominium project approval can be issued by FHA staff or by an FHA-approved mortgagee. mortgagees meeting defined eligibility requirements are authorized to review condominium documentation, determine project eligibility and certify to compliance with section 203(b) of the NHA and 24 CFR parts 203 of FHA’s regulations.
Mar 13, 2015. Is Your Condo on the FHA condo approval list and AHFC List?. Not all associations are approved for FHA or AHFC financing! If you bought your condo with one of those programs, it does not mean that today, it is still on that list. If your condo does not have these approvals, it.
– New FHA Condo Approval Rules for 2015 November 20, 2015 By Teri Lussier Leave a Comment The 2008 crash was tough on real estate, but for condo owners, it was even more of a nightmare. Condominiums – The Condominiums page allows users to search for FHA-approved condominium projects by location, name, or status.
What a windfall! Starting Oct. 15, individual borrowers will be able to get federal housing administration-insured mortgages.
heloc credit score minimum Home equity line resets: Is my 10 years already up? – That’s likely to be a better rate than a personal loan or credit card advance, and you don’t want to be pulling money out of a retirement account and taking a 30 percent minimum. get your score in.
FHA EASES CONDOMINIUM PROJECT APPROVAL REQUIREMENTS Temporary guidelines will increase number of condominium projects eligible for FHA approval. You can also connect with HUD on social media and follow Secretary Castro on Twitter and Facebook or sign up for news alerts on HUD’s Email List.
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