How Can I Find FHA-Approved Condos In Roseville, Rocklin and Lincoln, CA? What Are The Requirements For FHA Approval?

HUD (U.S. Department of Housing and Urban Development) offers an online search on their website to find FHA-approved condos. If you're a REALTOR, this is an essential tool to assist in your FHA buyers' home search as well as any condo listings you may have.

SEARCH FOR FHA-APPROVED CONDOS

Search for FHA-Approved Condominiums

If the condominium you're interested in purchasing cannot be found by doing this search, don't despair just yet...your lender may apply for FHA approval by following the instructions on this PDF document entitled: Condominium Approval Process for Single Family Housing.

Some important requirements for FHA-approved condominium complexes include:

  • The condo complex must be covered by hazard and liability insurance (and if applicable, flood and fidelity insurance).
  • No more than 10% of the units may be owned by a single investor, including the developer who is holding units as rentals.
  • No more than 15% of the units may be 30+ days delinquent in HOA dues.
  • At least 50% of the units must be owner-occupied.

These are just a few of the most common reasons condos don't qualify for FHA financing, but please read the PDF document Condominium Approval Process for Single Family Housing for a complete list of requirements.

Here are the results of my online search for FHA-Approved condos in Roseville, Rocklin and Lincoln, CA as of June 14, 2011:

LINCOLN

  • Paloma at Foskett Ranch (EXPIRED)
  • Sierra View at Lincoln Crossing (EXPIRED)

ROCKLIN

  • Club Pacific Condominiums
  • Montessa at Whitney Ranch
  • Hearthstone (REJECTED)
  • Vicara at Whitney Ranch (REJECTED)
  • Park Place Condominiums (WITHDRAWN)

ROSEVILLE

  • Campania
  • The Phoenician
  • Strada (EXPIRED)
  • Villemont (EXPIRED)

This information is updated daily, so be sure to check the status of a condominium before you write that offer with an FHA loan...or better yet, work with a REALTOR and/or lender who will do that for you!

Page copy protected against web site content infringement by Copyscape

BOB & LEILANI SOUZA
Real Estate Investment Specialists
Southwest Placer County, CA

Souza Realty, Bob & Leilani Souza - Real Estate Investment Specialists in Southwest Placer County, CA

Bob Souza - 925.513.3400 - bob@souzarealty.com

Leilani Souza - 916.408.5500 - leilani@souzarealty.com

Souza Realty - Real Estate in Roseville, Rocklin, Lincoln, Loomis and Granite Bay, CA

FORECLOSURES : TRUSTEE'S SALE AUCTIONS : INVESTMENTS
LOTS AND LAND : PROPERTY MANAGEMENT : RENTALS

Roseville : Rocklin : Lincoln : Loomis : Granite Bay
Auburn : Newcastle : Penryn : Meadow Vista
 

Souza Realty on Facebook   Leilani Souza on LinkedIn   Souza Realty on Trulia   Souza Realty on Twitter   Souza Realty on YouTube   Souza Realty on Zillow

SEARCH CALIFORNIA FORECLOSURES FOR FREE:

Search Foreclosures in Roseville, California   Search Foreclosures in Rocklin, California   Search Foreclosures in Lincoln, California   Search Foreclosures in Loomis, California   Search Foreclosures in Granite Bay, California

Copyright © 2002-2012 Souza Realty | All Rights Reserved | DRE #01262541

 
This post has been included in California Real Estate News Placer County, CA Real Estate News Rocklin, CA Real Estate News
Post is included in group: Active Rain Newbies
Post is included in group: Addicted to Active Rain
Post is included in group: Real Estate Questions & Answers
Post is included in group: Realtors®
Post is included in group: "Whacked"!!!

8 Comments on How Can I Find FHA-Approved Condos In Roseville, Rocklin and Lincoln, CA? What Are The Requirements For FHA Approval?

JUN
15
2011
936,551 Points 74 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

This is fantastic information for condo seekers in Roseville, Rocklin, and Lincoln CA.  Well done Leilani.
5:54am • #1
1,309,202 Points 65 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Leilani  I agree with Anita. Condominium purchasers in Roseville, Rocklin and Lincoln will find this to be a valuable resource
7:48am • #2
956,869 Points 53 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Leilani, this is so important, if a buyer will be purchasing with a loan!     Many condo buildings in Denver ARE NOT approved, and I have to check prior to showings lofts downtown!     GREAT INFO!
10:54am • #3
859,462 Points 8 Featured Posts Outside Blog Called Shot Master

Thank you, Anita! :)

Leilani
2:06pm • #4
859,462 Points 8 Featured Posts Outside Blog Called Shot Master

I hope so, Karen! Having this information readily available online makes things so much easier. :)

Leilani
2:07pm • #5
859,462 Points 8 Featured Posts Outside Blog Called Shot Master

Joan, your condo buyers are lucky to have a conscientious agent like you! Not all agents properly do their homework beforehand. :)

Leilani
2:09pm • #6
JUN
18
2011
517,936 Points 6 Featured Posts Outside Blog Called Shot Master
Looks like all I needed to do was keep reading your posts!!! Love this and will be bookmarking so I can find it easier!
5:26pm • #7
859,462 Points 8 Featured Posts Outside Blog Called Shot Master

I guess you found the answer to your question from my VA loan post, DeeDee! Thanks for bookmarking my posts! :)

Leilani
6:37pm • #8

Login or register to leave a comment
 
042312_souza_realty Rainmaker_large

Bob & Leilani Souza (Placer County, CA) Foreclosures, Trustee Sales, Lots & Land

Roseville, CA

More about me…

Souza Realty/Roseville-Rocklin-Lincoln-Loomis-Granite Bay-CA

Address: Roseville, Rocklin, Lincoln, Loomis, Granite Bay, 95661 95678 95747 95677 95765 95648 95650 95746, CA

Office Phone: (916) 408-5500

Cell Phone: (925) 513-3400

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog