Home Buying in Norwood>Question Details

Camila, Home Buyer in Norwood, MA

How can I know if a townhouse is FHA approva? I'm only approved with FHA and before I start doing paperwork I want to make sure FHA will approve

Asked by Camila, Norwood, MA Sat Oct 24, 2009

this townhouse because they don't pay association fee but they share the water and insurance 50% each. Also, there are only 2 units and one of the unit is rented, not owner occupied, please advice

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Answers

6
0 votes Thank Flag Link Tue Dec 20, 2011
You need to check HUD's website for approved condominium projects.
0 votes Thank Flag Link Tue Dec 20, 2011
Camila:

There is a website that has the approved FHA associations. You can also talk to a mortgage banker at a large bank like Wells Fargo and they may be able to write a loan on a 2 unit project. You really need to discuss this with a banker. Best
0 votes Thank Flag Link Fri Sep 17, 2010
The simples thing you can do is to call the listing agent for the unit you found. They will let you know if its FHA approved or not.

Hope this helps and good luck :)
0 votes Thank Flag Link Thu Sep 16, 2010
Hi Clara- I think we may have spoken before. Feel free to call or email me.
Its best if I can get the actual address. I can look up the place, and best case scenario it is already on the approved list. Most likely it is not.
FHA is changing all its condo approval guidelines soon- early December. So this whole thing is in a state of flux. I can dig into it a little if you can give me more information. Thanks and good luck,

Ken L.
0 votes Thank Flag Link Mon Oct 26, 2009
There are two ways to find out if a townhouse is FHA approved. You can contact the Home Owners Association if you know who it is. It will be in their by laws. Another way is to check with your lender. They usually have a list of FHA approved properties.
0 votes Thank Flag Link Sat Oct 24, 2009
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