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FHA Condo Approvals – The Basics
If you are buying a Condo here in Connecticut here is some helpful information you need to know about how Condo's and Mortgages work.
For more information on Connecticut Condo Resale Certificates, Declarations and Bylaws click here.
For answers on How Can I Check if My Condo is FHA Approvable click link.
 
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FHA Condo Approvals – The Basics
Following a post from earlier this week, I was asked about the basics for FHA condo project approvals.  Last month, I attended a training administered by HUD on this very topic.  The training lasted all day and the information was considered “the basics” so please excuse my lack of details here.
The guidelines for FHA condo project approval can be found in the attachment to Mortgagee Letter 11-22 called the Condominium Project Approval and Processing Guide, or the “Guide” for short.  Some of these guidelines were updated via Mortgagee Letter 12-18.
This is a [very] brief overview of the requirements for FHA condominium project approval.  I have included links to other articles that provide more details.
Legal Documents
FHA requires copies of all recorded legal documents pertaining to the project.  This includes the Articles of Organization ... more

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