Financing in San Diego>Question Details

Loangal, Real Estate Pro in San Diego, CA

FHA/VA condo project approval

Asked by Loangal, San Diego, CA Wed Dec 31, 2008

I came across a condo project that had VA approval (per VA's website), but did not have FHA approval (per hud's website). Would it be easy to get FHA approval if it's already VA approved?

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Your first step is to find a lender who will apply for a spot approval of an FHA loan for your condo purchase.

If your lender is unable to get a spot approval, then there would be a lot of paperwork involved to get the condo development fully FHA approved. The association would need to supply audited financial statements, data regarding renters vs. owners, etc.

Good luck!
0 votes Thank Flag Link Thu Jan 1, 2009
Usually, you can get a spot approval for units FHA. Contact your favorite FHA lender and they should be able to help.
Web Reference: http://fredglick.com
0 votes Thank Flag Link Thu Jan 1, 2009
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