A 24/7 Accessible Mirror of the HUD’s FHA-approval status Condo Database with instant search. 24/7 Dept of Housing and Urban Development FHA-Approval Status Search Search:
As a result of FHA’s new policy, it is estimated that 20,000 to 60,000 condominium units could become eligible for FHA-insured financing annually. Single Family Policy Handbook Guidance
The U.S. Department of Housing and Urban Development has released updated guidance on FHA-insured condo financing. "This ruling, which culminates years of collaboration between HUD and NAR, will help reverse recent declines in condo sales and ensure the FHA is fulfilling its primary mission to the American people," said NAR President John Smaby.
FHA Condo Approval Process. To buy an condominium with an FHA loan, the condo must be approved by HUD. FHA financing is much easier to qualify for than a traditional mortgage because the guidelines are more flexible. A downpayment of just 3.5% is required, much less than many conforming mortgages require. Which is between 5 and 20 percent.
and that HUD’s purported clarification of its requirements were actually "substantive rule changes" made "without evidence showing DPA loans provided on a nationwide basis by government entities pose.
Administration (FHA) Condominium Project Approval with Att-1 FHA Condominium Recertification Checklist 2015-27 Extension of Temporary approval provi sions for the Federal Housing Administration (FHA) Condominium Project Approval Process 2014-17 Temporary Approval Provisions for the Federal Housing Administration (FHA) Condominium Project.
A Condominium project must be on the list of FHA-approved condominiums, says HUD 4000.1, "unless it meets the definition for a Site Condominium" as described above. And that’s the major difference-the nature of the site condo is different than a more "traditional" condo project.
The FHA Connection provides FHA-approved lenders and business partners with direct, secure, online access to computer systems of the U.S. Department of Housing and Urban Development (HUD).