Who knows the FHA guidelines for condos?

I'm listing a property that is a condo.  I know there are some stipulations that some condo communities are approved and some are not.  I need to find out if my property is approved.  Do you know what the guidelines are?
 

5 Comments on Who knows the FHA guidelines for condos?

check out hud.gov

 request the handbook, they are easy once you know the guidelines

 

Dave Woodson

10/08/2007 02:59 PM by Dave Woodson (Indigo Financial Group Inc.)

Crystal... Google HUD approved condos, then click on any one of the sites mentioned and you will get directions to the "approved Condominium" list.

Good Luck

 

10/08/2007 03:00 PM by Chris Sloan Tooele Real Estate (Group 1 Real Estate)

Chris beat me to it. A good rule of thumb is that if it is a horizontal high rise then it will not qualify as FHA. If it a townhouse style then although it is a Condo it was most likely classifies as a PUD with some land ownership to the property owners and will qualify.

10/08/2007 03:26 PM by Paul Moye, Broker, ABR, GRI, e-PRO (Keller Williams Realty Franklin & Volunteer Trust Mortgage)

Hi Crystal,

If it;s that TH listing in CR.... It's likely not FHA approved....Your potential buyer needs to explore other mortgage options like My Community etc...

If you need some help with this buyer, let me know...

 

frank

10/09/2007 09:10 PM by EXIT Realty Executives

HUD has a list by state and city on their website of condos that are approved for FHA mortgages.   https://entp.hud.gov/idapp/html/condlook.cfm 

10/09/2007 09:13 PM by Rob Arnold, Florida Realtor / Investor (Sand Dollar Realty Group, Inc.)

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Real Estate Agent: Crystal Brummer | Lake Calhoun | Uptown | St Louis Park | Minneapolis Specialist (Exit Lakes Realty - 12 Local Offices in the Twin Cities Area)
Crystal Brummer | Lake Calhoun | Uptown | St Louis Park | Minneapolis Specialist
Saint Louis Park, MN
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Exit Lakes Realty - 12 Local Offices in the Twin Cities Area

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