How do you know if a condo is fha approved?
Condominiums that are "approved" by the Federal Housing Administration are eligible for an FHA home loan. The FHA provides an easy to use web site that lists the FHA approved condos. If the condo development is not on the list or the approval has expired, then the project will need to be approved or re-certified before an FHA loan can be obtained.
In November of 2015, the FHA announced a temporary rule making it easier to get a condo project added to the approved list for an FHA mortgage loan. The new guidelines are not permanent and run for one year.
The FHA spot approval was eliminated in 2010. If the condo project is not on the FHA approved list, the project must go through the approval process before a home buyer or homeowner can obtain an FHA mortgage. Condominium projects must be certified every 2 years.
If you are seeking a spot approval or a development approval, you
can either read a mountain of regulations and work with the FHA
staff to obtain approval or use
FhaReview to handle the paperwork.
FHA home loan
These pages contains a variety of information on FHA home loans.
- FHA back to work program
- FHA high balance loan limits
- FHA Limits Look Up
- FHA Loan Calculator
- FHA loan cosigner requirements
- FHA Net Tangible Calculator
- FHA second home loan requirements
- How much is FHA mortgage insurance?
- How to buy HUD homes
- List of FHA approved condos
- Requirements for an FHA loan
- What is a streamline refinance?
- What is an FHA loan?
- What is FHA mip?