Real estate blog entries tagged with fha condo loans by GetLoans.com

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Home : Blogs : Brian Martucci : Brian Martucci's Blog : Tag "fha condo loans"

fha condo loans: FHA Condo Loans Get “More” Complicated - 03/01/10 07:06 PM

It used to be simple to get an FHA condo loan. Lenders could do an FHA “Spot Condo Approval”, which meant that the condo did not need to be on the FHA Approved Condo List, and all we lenders needed to do was verify that the condo met certain FHA requirements (51% owner occupancy, no litigation against the condo, no more than 10% of the unit owners behind in their condo fees, etc). Now the condo approval process is more centralized, and more complicated.
There will be two methods of FHA condo approval:
1. HUD Review and Approval Process (HRAP). … (0 comments)

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