Home Buying in Uptown>Question Details

mc3318, Home Buyer in Chicago, IL

how do i find out what year a property became FHA approved?

Asked by mc3318, Chicago, IL Fri Feb 8, 2013

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mc3318’s answer
ok, now back to my original issue... we are trying to get the building VA loan approved for our purchase, and I have learned that if the building was FHA approved prior to 2009 it is much more difficult for VA approval. any thoughts on that issue?

thanks for all the help today!
1 vote Thank Flag Link Fri Feb 8, 2013
ok, maybe I didn't... the property name is Dover Court Condominium, and has several st addresses as it is a large building with several entrances. our address is 4607. I found a listing for Dover Condominium Association, but it is for address 4606. Not sure if this is it? I know the property is FHA approved, and this is the only address that even kind of fits.
1 vote Thank Flag Link Fri Feb 8, 2013
thanks, everyone! found it.
1 vote Thank Flag Link Fri Feb 8, 2013
Email me the address and I will look it up for you
Sam Sharp
Senior VP of Mortgage Lending
Sam.sharp@guaranteedrate.com
773 290-0455
1 vote Thank Flag Link Fri Feb 8, 2013
Go to http://www.hud.gov. Click on the resource tab, then click on HUD approved condominium projects. Do a search by zip code in the drop down box. Then look for the association by legal name


Steve Stenger
President
Condo Approval Professionals LLC
E-mail: steve@condo-approval.com
1 vote Thank Flag Link Fri Feb 8, 2013
would it be possible that the address doesn't match up? here is my update:

the property name is Dover Court Condominium, and has several st addresses as it is a large building with several entrances. our address is 4607. I found a listing for Dover Condominium Association, but it is for address 4606. Not sure if this is it? I know the property is FHA approved, and this is the only address that even kind of fits.
Flag Fri Feb 8, 2013
thanks, everyone! we have someone working with us at the moment, but will definitely head back here if we run into any problems. really appreciate the info.

ms
0 votes Thank Flag Link Fri Feb 8, 2013
I would be happy to help obtain VA approval for you. My company specializes in condo approvals through FHA, VA, and Fannie Mae/Freddie Mac. We have over 18 years of national condo project approval experience.

I would not say it is easier than FHA. It is very comparable, however, VA requires different language in their Declaration. Also, there is different documentation required.

We would be happy to help. You can contact me at (847)293-2962 or by e-mail at steve@condo-approval.com.

Steve Stenger
President
Condo Approval Professionals LLC
0 votes Thank Flag Link Fri Feb 8, 2013
This is actually easier then getting an FHA apporoval
I can handle the approval - if you would like more details please feel free to contact me at your convenience
Sam Sharp
Senior VP of Mortgage Lending
773 290 0455
0 votes Thank Flag Link Fri Feb 8, 2013
As Steve suggested, the HUD.gov website has an updated list of approved projects.
0 votes Thank Flag Link Fri Feb 8, 2013
It is FHA approved, my company did the FHA approval through the Management company. The FHA condo ID is: A004304. The approval will expire on 6/14/2014
0 votes Thank Flag Link Fri Feb 8, 2013
thank you very much!!
Flag Fri Feb 8, 2013
Looks like Steve answered your question fast!
0 votes Thank Flag Link Fri Feb 8, 2013
A single family house or 2-4 unit building is approved (or not) based on an inspection that is part of the contract.
Condominiums and townhomes must be part of an association that is FHA approved, as well as pass a property inspection. This certification is only good for 24 months and must be renewed by the association.
In the past there was an FHA "spot" approval, but these are no longer done.
The Homeowner Association officers will have the information you are looking for.
0 votes Thank Flag Link Fri Feb 8, 2013
The database on line is not always reliable. you are best to go to the association and to rely on your lender to provide accurate, up to date status on the approval of a building.
Flag Fri Feb 8, 2013
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