The speed of FHA Approval depends on:
It is possible for us to rush the application process through our office, however, there is no way to expedite a file through the FHA.
The FHA Condo certification will be good for 3 years. During this time, anyone within the community can utilize the following:
If our review determines a condominium is eligible for FHA Approval, we will back it up 100%. If you don’t get FHA approved, you don’t pay for the submission!
Common issues that MIGHT preclude a condominium from meeting our “Don’t Pass, Don’t Pay” program are:
Let us review your community to see if it qualifies.
If your community does not meet our eligibility requirements for FHA condo approval based on our review, we can submit your application for a non-refundable fee at your request.
Lets break this down…
Complete the online form located here to get the process started.
We provide you with an FHA specific Questionnaire, and a payment form based on your situation.
The Questionnaire, along with a list of required documents will need to be completed and emailed to us by the Property Management company, or Board of Directors.
We can assist you with this communication for a fee ($150) if you need us to.
Our processing team will review the file and see if it meets FHA Condo Approval Guidelines.
We’ll send you the results of our review, and will let you know if there are any issues that will prevent FHA approval for the condo. ($195 review fee)
If we discover things in our review that conflict with the FHA Condo Approval Guidelines, we will recommend a course of action to bring the community up to FHA Eligibility Standards.
It will be up to the Property Manager or Board to fix these issues most often.
After the eligibility criteria are met, we will build and submit your application to the FHA for Condo Approval.
The FHA generally responds to us within 2-3 weeks; however, it may take up to 30 days. ($700 Submission fee)
At this point, the FHA Condo Approval process is complete.
Once your community is FHA Condo Approved, you will be notified and emailed a certificate. You can now proceed with your loan.
To get started we will need a few things directly from the Condo Association Manager or Board of Directors. This will include:
For the Step 1 Questionnaire, please complete our Get Started Form so we may provide you some information related to your specific condo.
We won’t know if a Condo qualifies for FHA approval until we review the documents, and bounce them off the guidelines.
We can advise you of the most common problems we face. Here are the “Show-stopper” issues we see:
Not ALL communities will qualify for FHA Condo Approval. Most issues we encounter can be fixed, but some cannot.
At FHA Review, we offer a “Don’t Pass, Don’t Pay” guarantee to associations who meet 100% of the eligibility requirements.
Per our contract, we will obtain your community’s:
Other companies may expect you to find these documents, or charge extra. The only documents we request from you, the Management Company or the Board of Directors are documents that are not publicly available.