HOA & FHA – Helping Homeowner Associations Obtain FHA Approval, Create More Choices for FHA Buyers
As of February 1, 2010, FHA no longer allows spot approvals in Homeowner Associations. From now on, for a FHA buyer to buy in an HOA community, the community itself will have to be FHA approved. If your FHA pre-approved buyer is looking to purchase a home in a HOA community, here is how your can find out if the community is FHA approved or how the HOA can obtain FHA approved or how the HOA can obtain it:
- Visit https://entp.hud.gov/idapp/html/condlook.cfm to see if the property you are going to buy is a FHA approved community.
- If the property is not listed, try contacting the HOA/HOA Manager and asking if their FHA approval status has changed.
- If the community is not FHA approved, ask the realtor if the HOA/HOA manager would be willing to work with you on obtaining community FHA approval.
- If everyone is willing to participate, a series of documents will need to be collected and submitted to “HUD Santa Ana Homeownership Center”. The entire approval process can take up to 30 days so make sure you gather “ALL” the documents that are requested.
Click here for a copy of the documents you need for FHA approval.
For additional questions regarding FHA approval, contact the FHA Resource Center at: 800 225 5342 and choose option #2 then option #3 to speak to a live operator.