why are condos not fha approved

But I also believe she does not want me inside. 13-unit condo. A new owner purchased a condominium in our building under FHA’s "spot" approval process last year. We are now trying to get our.

Effective immediately, FHA’s temporary guidance will streamline the agency’s condominium recertification process and expand the eligibility of acceptable "owner-occupied" units to include second homes.

Condominiums The Condominiums page allows users to search for FHA-approved condominium projects by location, name, or status. These properties are not for sale by the FHA. The search can be configured to find specific types of projects through the use of the pull-down menus and entry fields.

If you are selling a condo, your condominium complex must be FHA-approved before a buyer can obtain a home loan. If your condo does not have FHA-approval status or does not qualify under FHA guidelines, there is an enormous pool of potential buyers who will be unable to buy your property.

What can I do to get my $6,000 deposit back? -M. Johnson A: Welcome to the not-always-so-wonderful world of buying a condo in a non-Housing and Urban Development (HUD)-approved complex using an FHA.

As the book points out, community associations and association housing are subject to state laws and residential mortgage lending requirements that do not apply. wants an FHA-insured mortgage, the.

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Why are some condo’s fha approved and some not? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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Call the management office and ask them why they are not HOA approved. I believe that 60% of residents in a condo community must be owner occupants (used to be 80% until 2011, I believe) and that is the most common reason Condo communities don’t qualify as FHA approved.

Difference Between Condos vs. Townhouses vs. Detached Homes - Real Estate Tips The above are not the only ways for a condo complex to not be FHA approved. Many complexes in my area have chosen not to renew their eligibility. Too much red tape they have to go through and they rather not do it. It doesn’t mean those complexes don’t qualify. They just don’t want to play the game.