FHA Condo Financing

FHA Condo GuidelinesFHA Condo Mortgage Approval

FHA Condo financing requires the condo itself be considered eligible for financing by FHA.  FHA condo mortgage eligibility is determined by one of two processes:

I.   Pre-approved FHA Condo Verification
II.  Requesting FHA Condo Approval from FHA

The most commonly used method is verifying FHA condo pre-approval.   Either way, the condo being financed by an FHA home loan must be deemed eligible for financing by FHA.

How do the two approval processes compare?  See below for more.

I. Pre-approved FHA Condo Verification

FHA maintains a public list of condo projects that are currently deemed eligible for FHA condo financing.  If the condo being financed is shown as “approved” on FHA’s approved condo list there are only a few additional items a mortgage lender must confirm for the condo to be considered FHA eligible. Contact The HOUSE Team for more information.

The FHA pre-approved condo list can be found here: FHA Pre-Approved Condos

Check out The HOUSE Team’s FHA approved condo Map for Maricopa County: Maricopa County Approved Condo – MAP (unofficial)

II. Requesting FHA Condo Approval from FHA

If a condo being financed is NOT on FHA’s pre-approved condo list your mortgage lender can request FHA condo approval.  FHA would review the condo project/HOA to determine if it meets FHA condo eligibility requirements.  Submitting a condo for FHA approval is a great option but may take time (process can take up to 4 to 6 weeks).

Please contact The HOUSE Team if you have interest in submitting a condo project for FHA eligibility review.

The HOUSE Team Speaks “Condo”

The HOUSE Team is experienced and knowledgeable when it comes to financing a condo.  Mortgage rules and the loan process differ when it comes to successfully closing a mortgage on a condo on time without any costly surprises.  If you need an expert condo lender on your team, contact us today.

Team Phone:  602.435.2149
Team Email:  Team@JeremyHouse.com

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