The 6 Steps Of Our FHA Condominium Approval Process
This Is A Short Video Describing The FHA Condominium Approval Process
The first thing you need to do is to fill out our short FHA Condominium Approval Worksheet or call us at (800) 833 0409 and use option 1. We will ask you to give us some information regarding your condominium complex. This will let us know if your condominiums will pass the VA or FHA condo approval process. If there are any issues that would keep your community from being approved we will let you know what you will need to add or change to become FHA or VA compliant. After we are sure that your condos will be approved we can move on to the next step.
After your complex passes the review we will send you a contract that spells out the terms and conditions of our services. Once we receive this signed document back we will be able to proceed. Use this link to see Our Fee Schedule or Get A Hold Of Us to receive a copy of our sample contract.
Your signed contract and questionnaire will be sent to our review department and they will make up a worksheet listing the documents and information that FHA or the VA will require for approval of your complex. These will include financial documents, corporate documents, insurance documents and information about your Homeowners Association and Condo Community. When we get all this back it’s on to step 4.
Our review department will compile your information and documents into the format that the VA or FHA wants. We will acquire and add the required FEMA package, Plat Map package and the detailed cover letter to your application at no additional cost to you. Once we have it in the proper configuration we will send it to HUD.
HUD will take a week or so to log in the package. After they have acknowledged that they have the application packet it will take about 4 weeks for them to approve your project. In a very small number of cases HUD may request additional information. If more information is requested it usually only takes them 10 days to 2 weeks to review this info and issue an approval.
On the day your community is approved you may start using FHA or VA Financing Programs for your Condominium Complex. The VA Approval process works about the same as FHA approval but with a 4 to 6 month approval time. An expedited approval program, 4 to 5 weeks, is available from the VA for an extra charge. Use this link to see our VA Approval Page.
You Can Reach Us by Calling Toll Free (800) 833 0409
For Our Sales Department or Questions About Condos Approval Please use Option 1
For Billing Questions Please Use Option 2
For Customer Service Please Use Option 3
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