FHA condo lookup

FHA condo approvalCondominiums that are "approved" by the Federal Housing Administration are eligible for an FHA home loan. The FHA provides an easy to use condo lookup tool that lists the FHA approved condos. If the condo development is not on the approved 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.

Frequently asked questions about FHA condominiums

Can a FHA mortgage cover a condominium project that is not FHA approved?

To be eligible for FHA mortgage, a condominium project must meet all FHA condominium requirements and be approved by FHA or an unconditionally approved Direct Endorsement lender.

The only exceptions to the condo requirements are for FHA-to-FHA streamline refinance transactions, HUD Real Estate Owned (REO) transactions, and those projects meeting the site condominium definition and requirements.

Is the FHA condo project concentration determined by the entire project or individual phases?

FHA condo project loan concentration percentages are determined according to whether the project development is subject to a single phase or legally declared multiple phases.

In single-phase project approval requests, all units are used in the denominator when calculating the owner-occupancy and FHA concentration percentages.
a. Projects consisting of three or less units must have no more than one unit encumbered with FHA Insurance.
b. Projects consisting of four or more units will have no more than 50 percent of the total units encumbered with FHA Insurance.

On multi-phased projects, the owner-occupancy and FHA concentration percentage is calculated on total number of units in the first declared phase and cumulatively on subsequent phases. SOURCE: FHA Questions & Answers