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FHA Approved Condos

FHA Approved Condos can be found in all states and at all major locations in the United States. Chicago, NYC, Brooklyn, MA, Orlando, Broward County, Manhattan and NH are some of the areas where search percentage for FHA approved condos for sale are higher than other locations.

FHA grants approval for only two years, so it is important for you to check the date of expiring before proceeding towards buying a condo or townhome. Moreover, there are other factors, such as FHA concentration, owner occupancy and investor ownership that form the eligibility criteria for an FHA approval.

FHA Approved Condo List



The HUD Mortgagee Letter 2009-46A still permits FHA to maintain a list of approved condos. One can search this condo list by providing parameters like state, city, zip code, approval method, condo name & ID, city, status, and begin date and end date. It is possible to customize your search by providing any combination of these parameters.

This nationwide database is managed by a separate HUD department and is constantly updated with new information. You must note that the time to use this database for viewing the list of approved condos in your locality is fixed, which is 8 am to 9 pm Easter Time from Monday through Friday.

FHA Approved Condo Requirements



As per the Mortgagee Letter, it is mandatory to get approval for condominium project before one can apply for an FHA mortgage insurance. Lenders have two methods to get their condos and developments approved.

HUD Review and Approval Process (HRAP) is open to all whereas Direct Endorsement Lender Review and Approval Process (DELRAP) is for lenders who have unconditional Direct Endorsement authority supported by qualified staff to review and approve condominium projects.

FHA Approved Condo Guidelines



When the process is complete, a condo ID consisting of seven characters is issued for the project. The set of units submitted at the time of application is provided with a three-digit Submission number of 001. The sets of units added to the approved buildings or complexes at a later date are given the next sequential Submission number, such as 002, 003, etc.


The approval guidelines also require that no one within an association should own more than 10 percent of the units. This is to diversify and minimize financial risk involved in the project and also to prevent the emergence of one dominant community within the association. For more information on FHA approved condo guidelines and other issues, visit the website of Federal Housing Administration or HUD.

Website: www.hud.gov




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