FHA Condo Project Eligibility - Atlanta 30308

On December 8, 2010, an estimated 45,000+ condominium projects lose their FHA approved status.  The Atlanta zip code of 30308 has 4 of them.  There are 3 projects that will expire in 2011 and 9 are good until 2012.

FHA Approved Condo Projects - Expiring 12/07/10

• 795 Myrtle Street Condominiums
• Siena at Renaissance Park
• The Reynolds
• The Tyree Condominiums

FHA Approved Condo Projects - Expiring 12/08/10 or later

• 400 W Peachtree (Expires 12/07/11)
• Glendale Heights (Expires 07/26/12)
• Melrose Park Condominium (Expires 10/05/12)
• Palisades By the Park (Expires 11/09/12)
• Renaissance Lofts (Expires 06/17/12)
• Renaissance Park (Expires 08/02/12)
• Renaissance Park II Condominiums (Expires 08/02/12)
• Spire (Expires 11/26/12)
• The Cornerstone Village (Expires 04/12/12)
• The Dakota (Expires 08/11/12)
• Troy Peerless Lofts (Expires 12/07/11)
• Viewpoint Residential - Tower 1 (Expires 12/07/11)

FHA Rejected Condo Projects

• Ivy Hall (Reason - incomplete package was submitted)
• The Desoto (Reason - unknown)

A project marked as "Rejected" is not necessarily ineligible for FHA financing.  If there is now additional information available for review, the project can be resubmitted to HUD for an HRAP review.  

All condominium Project approvals expire two years from the date the project is added to the approved condominium list.  After this two year period, the project must be re-certified/re-approved.  This review will determine whether or not the project is still in compliance with all of HUD's guidelines.  This includes compliance with the owner-occupancy requirement and that no additional conditions exist that would present an unacceptable risk to FHA/HUD.

For buyers and sellers, knowing whether or not your condo is FHA approved is crucial when determining a closing time frame.  An FHA appraisal cannot be ordered until the project is in an "Approved" status. 

 

FHA Condo Recertification Processing Requirements

Does Your Condo Project Need an FHA Recertification or a Full Project Approval?

 

 

It is always advisable to consult with a Certified Mortgage Planning Specialist (CMPS) when navigating today's turbulent mortgage and real estate marketplace. As a CMPS professional, I am committed, qualified and equipped to help you evaluate your options!

 

Also check out:

Conventional Financing Mortgage Program Overview/Updates

FHA Financing Mortgage Program Overview/Updates

Georgia Dream Down Payment Assistance Program Overview/Updates

HomePath Financing Mortgage Program Overview/Updates

USDA Financing Mortgage Program Updates  

Programs Include:

• Conventional (Fannie Mae & Freddie Mac)
• Fannie Mae HomePath - #1 Volume Retail Lender
• FHA
• FHA 203K Renovation Loans (Streamline or Consultant)
• Georgia Dream Down Payment Assistance
• Jumbo
• USDA
• VA
• Conventional Condo Project Approvals
• FHA DELRAP / HRAP Condo Project Approvals

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Rodney Mason is a Certified Mortgage Planning Specialist located in Atlanta, GA.  He is also 203K Renovation Loan and HomePath REO Property Specialist.  He can be reached at (404) 591-2453.

Providing financing for cities across Georgia including: Acworth, Albany, Alpharetta, Athens, Atlanta, Augusta, Austell, Avondale Estates, Blairsville, Bloomingdale, Blue Ridge, Bogart, Brunswick, Buckhead, Buford, Canton, Carrollton, Cartersville, Chatsworth, Clayton, College Park, Columbus, Commerce, Conyers, Covington, Cumming, Dahlonega,  Dacula, Dalton, Dawsonville, Decatur, Doraville, Douglasville, Duluth, Dunwoody, East Point, Fayetteville, Flowery Branch, Gainesville, Greensboro, Hampton,  Hapeville, Hinesville, Hiram, Jackson, Jefferson, Jonesboro, Kennesaw, Lagrange, Lawrenceville, Lilburn, Lithia Springs, Macon, Madison, Metter, Morganton, Morrow, Newnan, Norcross, Oakwood, Peachtree City, Pooler, Richmond Hill, Riverdale, Rome, Roswell, Sandy Springs, Savannah, Scottdale, Statesboro, Stockbridge, Stone Mountain, St Marys, Sugar Hill, Suwanee, Thomasville, Thunderbolt, Tucker, Tybee Island, Valdosta, Waleska, Warner Robins, Waycross, Wilmington Island, Winder, Woodstock, and many more.


Providing financing for cities across Alabama including: Alabama Port, Anniston, Athens, Auburn, Bessemer, Birmingham, Boaz, Bridgeport, Cedar Bluff, Chickasaw, Clayton, Coden, Dauphin Island, Decatur, Dothan, Eufaula, Fairfield, Fairhope, Florence, Foley, Forestdale, Fort Morgan, Fort Payne,Gasden, Grand Bay, Gulf Shores, Heron Bay, Homewood, Hoover, Jasper, Josephine, Madison, Meadowbrook, Midfield, Mobile, Mon Louis, New Hope, Orange Beach, Oxford, Oyster Bay, Phenix City, Prichard, Rainbow City, Saraland, Satsuma, Scottsboro, Selma, Troy, Theodore, Tillmans Corner, Trussville, Tuscaloosa, Vestavia Hills, Warrior and many more.

 

           

NMLS #151088 - Licensed in AL & GA.