FHA Condo Guidelines

Effective November 2, 2009, the FHA is changing its guidelines for spot approval loans as well as updating it’s current requirements for FHA financing in condo developments. Here’s a link to the details posted on the HUD website on June 12, 2009 – http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/09-19ml.doc

Check to see if a condo is on the FHA Approved list prior to writing a contract here – https://entp.hud.gov/idapp/html/condlook.cfm

A special thanks to the Lafayette Report Blog for bringing this to my attention – http://lafayettereport.activerain.com/post/1268098/new-fha-guidelines-for-condo-loans-eliminating-the-spot-approval-process-take-effect-on-november-2-2009