That's not FHA approved

By
Mortgage and Lending with Prospect Mortgage

Hello,

Well I thought I would address a simple task today that has become so complicated (LOL.)  It starts like this, have you ever had a FHA buyer?  Or are you a FHA buyer?  Is so, and your looking for a FHA condo you should know how to use the FHA portal.  It's a site that allows everyone, yes everyone, to look up whether or not the condo you are looking at is FHA approved.  It is tough though, you have to know the zip code and complex name of the condo.  Once you have that information you are pretty much good to go!  Looking this up will save you tons of time and frustration.  All agents should know how to do this, its part of a real estate professional's job (unfortunately most do not though, which it ok I guess.)

What happens if the name of the complex is not on the FHA site?  Don't despair; sometimes the names are different on title (so check title records and compare.)  So this means you have to pull a plat map or a legal description to gain more information and then compare it to the site.  If you run into real trouble please call a lender, and if they're experienced they'll be able to help you.

News flash!  Not all complex's are FHA approved and there are no longer "Spot Approvals" only full complex approvals currently (these take some time also)

Here is the site for you to use.  Always search all states and status "approved."

https://entp.hud.gov/idapp/html/condlook.cfm

 Thanks for reading and please feel free to contact me.

 

David

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Rainer
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Jody Lautenbach
Century 21 Premier Associates - Pella, IA

We just had the same issue with a condo. If  can get complicated. Great site to use.

Mar 24, 2010 02:49 AM #1
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Rainer
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David Wright

David Wright Prospect Mortgage
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