FHA Condo Project Eligibility - Atlanta 30309

By
Mortgage and Lending with Guaranteed Rate NMLS #151088

On December 8, 2010, an estimated 45,000+ condominium projects lose their FHA approved status.  The Atlanta zip code of 30309 has 9 of them.  There are 6 projects that will expire in 2011 and 15 are good until 2012.

FHA Approved Condo Projects - Expiring 12/07/10

  • Ardmore -Sheryl
  • Brookwood Park Condo
  • City Park Townhomes Condominium
  • Colony Park Citihomes Condominiums
  • Metropolis North
  • Parc Vue Condominiums
  • Townegate Townehomes Condominiums
  • Tuscany Condominiums
  • Wingfield Condominiums

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

  • 1010 Midtown Residential Condo (Expires 12/15/11)
  • 1280 West Condominium (Expires 12/07/11)
  • 905 Juniper Condo (Expires 04/19/12)
  • Alden Townhouse Condominium (Expires 10/27/12)
  • Ansley Terrace Condo Association (Expires 12/07/11)
  • Aqua Condominiums (Expires 12/07/11)
  • Aramore Condominium (Expires 10/14/12)
  • Collier House (Expires 07/01/12)
  • Cotting Court Condominiums (Expires 05/06/12)
  • Luxe Condominiums (Expires 02/10/12)
  • Manchester/Westminster (Expires 09/22/12)
  • Mayfair Renaissance (Expires 11/22/12)
  • Mayfair Tower 1 (Expires 05/04/12)
  • Park Cenral (Expires 07/01/12)
  • Peachtree Lofts Condominiums (Expires 12/07/11)
  • Peachtree Walk Condominiums (Expires 04/08/12)
  • Piedmont Park West Lofts (Expires 02/08/12)
  • Plaza Midtown (Expires 12/07/11)
  • Stanford Court Condominiums (Expires 06/11/12)
  • The Brookwood (Expires 08/26/12)
  • The Loftts at Park II (Expires 07/02/12)

FHA Rejected Condo Projects

  • Above the Four Seasons (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. 

Click here to get the most up to date information on a condo project's approval status.

If you are looking to purchase a condo that needs a DELRAP or HRAP approval, contact me at (404) 591-2453.

FHA Condo Recertification Processing Requirements

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

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It is always advisable to consult with a knowledgeable lending professional when navigating today's turbulent mortgage and real estate marketplace.  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

USDA Financing Mortgage Program Updates  

 

Programs Include:

 

  • Conventional (Fannie Mae & Freddie Mac)

  • FHA, USDA, & VA

  • Jumbo to $3,000,000

  • Bank Statement Program for Self-Employed Borrowers

  • Foreign National Program

  • Investor Cash Flow

  • Non-Warrantable Condos

  • Georgia Power Leaseholds for Lake Burton, Rabun, & Seed

 

  • ************************************************************************************************************
  • Rodney Mason is a Licensed Branch Manager located in Atlanta, GA.   He can be reached at (404) 591-2453.
  • Providing financing for all 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 all 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.

  • Providing financing for all cities across Florida including: Altamonte Springs, Atlantic Beach, Boca Raton, Bradenton, Cape Coral, Clearwater, Coral Springs, Daytona Beach, Delray Beach, Destin, Fort Lauderdale, Fort Myers, Fort Walton Beach, Gainesville, Hollywood, Homestead, Jacksonville, Jupiter, Key Largo, Key West, Lake City, Largo, Marathon, Mexico Beach, Miami, Naples, New Smyra Beach, Ocala, Orlando, Palm Coast, Panama City Beach, Pensacola, Pompano Beach, Port St Joe, Sanibel Island, Sanford, Sarasota, St Augustine, St Petersburg, Tallahassee, Tampa, Vero Beach, West Palm Beach, & Winter Park, and many more.

 

  • Providing financing for all cities across South Carolina including: Aiken, Anderson, Beaufort, Bluffton, Charleston, Columbia, Conway, Edisto Island, Florence, Greenville, Hilton Head, Johns Island, Myrtle Beach, North Augusta, Orangeburg, Rock, Hill, Spartanburg, Sullivans Island, Summerville, and many more.  
  •   

    Providing financing for all cities across Tennessee including: Athens, Brentwood, Bristol, Chattanooga, Clarksville, Cleveland, Cookeville, Dyersburg, Franklin, Gatlinburg, Greeneville, Johnson City, Kingsport, Knoxville, Maryville, Memphis, Morristown, Murfreesboro, Nashville, Newport, Oak Ridge, Pigeon Forge, Sevierville, and many more

 

All mortgage lending guidelines are accurate at time of post, but are subject to change without notice.  Please call for the most current information.

    

           

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Rainmaker
682,884
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Great and detailed information that will help consumers and Realtors alike!

Dec 03, 2010 03:15 PM #1
Rainmaker
601,337
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Rodney - We've got thousands of units here in Los Angeles and Ventura counties that will lose their FHA status.  As if condo financing wasn't challenging enough.  After next week, buying a condo around here will be nearly impossible.

Dec 04, 2010 09:53 AM #2
Rainmaker
418,351
Rodney Mason
Guaranteed Rate - Atlanta, GA
Licensed in AL, FL, GA, SC, & TN

Jane....I be you have quite a few in your area expiring too. 

Donne....I can only imagine.  Getting these projects re-approved will take some time.  At least we don't have to go through HUD to get it done, so we can turn them quicker

Dec 06, 2010 09:29 AM #3
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Rainmaker
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Rodney Mason

Licensed in AL, FL, GA, SC, & TN
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