How to Find FHA Approved Condos

New or Newly Converted Condos:

To determine project eligibility on current projects with Fannie Mae go to www.efanniemae.com

click Single Family tab

click Reference materials

click Accepted Condos

click Appropriate State and review expiration date

Established Projects (90% sold & conveyed and owners control HOA)

Email opuscondospotapproval@wellsfargo.com to see if we have project approval.

If not, can submit to BPAG using streamlined "Established Condo" approval process

Possible FHA approved Condos:

https://entp.hud.gov/idapp/html/condlook.cfm

Sort by Project Name, City and/or State

FHA Spot Approval:

Must be 90% sold and closed

Must be 51% o/o or 2^nd home

Owners must have controlled HOA for 12 months

See FHA 921 and Answer key on Regional Builder Website

** Make sure to get a 921 filled out and review for the following:

1. # total units, sold and closed and investor %

2. Ensure no more than 15% of total units are delinquent on HOA dues

3. Ensure no person or entity owns more than 10% of the units

4. Ensure proper insurance coverage including Fidelity Insurance

www.GulfsideLand.com