fha approved condo list: FHA-Approved Condo List
- 02/10/10 04:47 AM
Consumers may search the database for FHA approved condos at entp.hud.gov. However, this should only be considered a starting place since approval guidelines have been tightening, and the database may not fully reflect these changes. Current requirements include: *Complex must be at least 51% owner occupied.*No one entity can own more that 10% of the units.*Only 50% or less of the units can have FHA insured loans (concentration).*Less than 15% of the units can be in behind more than 30 days on association fees.*HOA must carry specific insurance on the complex (see Letter B below) For detailed information read the Mortgagee Letter … (0 comments)
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