Is That Condo FHA Approved: How to Find Out?

Is That Condo FHA Approved: How to Find Out?

If you are shopping for a condo right now, no matter what the market’s in, and you’re obtaining an FHA mortgage – it’s important to figure out if the condo is FHA approved.

FHA has a website where you can go and look up the condo and see if it’s approved. Now, there’s been a lot of condo complexes over the last 6, 7, 8 years that have let their FHA approval drop. So this is very, very critical that you check this ahead of time to make sure the condo complex is approved. If the condo complex is not approved, there is what’s called an FHA single unit approval for a condo where you can apply to get that individual condo unit approved according to FHAs parameters.

The process for this, it can be arduous. It’s very stringent. So you got to prepare yourself for some paperwork, for some time, maybe a longer contract, which in this market can be difficult to negotiate with the seller. But nevertheless, check the link below to see if the condo is approved already. If the complex is approved, you’re good to go. If it’s not approved, then you might want to consider a different condo.

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

Give me a call if you have any questions on that. Now, if you need help with your pre-approval, if you’re not yet, pre-approved, if you’re not talking to a lender, call me. I’m happy to answer your questions to help you see what you qualify for and to help you look up that condo to see if it’s approved already. 303-670-0137.