Home Buying in New Jersey>Question Details

Tina, Home Buyer in New Jersey

How long it takes for a building to get FHA approval?

Asked by Tina, New Jersey Tue Feb 17, 2009

trying to buy a condo but the building is not FHA approved yet. The builder said it will take another 1 to 2 months to get the approval. It's already 3 weeks and they still tell us 1 to 2 weeks. It's in New Jersey. Any one know how long it takes to complete the process? We did try for the spot approval but the requirement didn't met. :(

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I have used the FHA Pros a company based in Southern CA to handle HRAP submissions for a little over a year now and they seem to be able to get an association approved in 4-6 weeks. I have a link to their site below, I think they are nationwide...I like them because if they can't get you approved they refund their fee...and in times like these that's a huge help to everyone!
Web Reference: http://www.fhaprosllc.com
0 votes Thank Flag Link Tue Mar 30, 2010
Tina,

The process can take time and you are at the mercy of the Builder who is at the mercy of the processor.
If the spot approval did not fly there must be valid reasons. If FHA questionaire from the builder is in.. you have to wait it out. I am surethe builder wants the approval as much as you do.

Has you Mortgage rep been keeping you informed? This will be your best source of information.
0 votes Thank Flag Link Wed Feb 18, 2009
Feel free to tel her that I set you as her atennas will be up, knowing that I demand the same level of serivce from my associates that I give to my own clients. . . . and future referrals depend on this . . .
0 votes Thank Flag Link Wed Feb 18, 2009
Tina,

This question appears to be better suited for a mortage professional. In my expertise "how long it takes to complete the process" is relative to the circumstances and as a RE professional prefer not to comment any further.

Feel free to contasct Dawn Benedickson, mortage pro @ dbenedickson@supmort.com or 732.775.7765 to see if she can help. She's an upfront, straight shooter, like myself who'll tell u straight away whether she can help or not and possibly recommend alternative contacts. Feel free to tel her that I set you as her atennas will be up, knowing that I demand the same level of serivce from my associates that I give to my own clients.

Francesca Patrizio, Realtor Associate
NJAR Circle of Excellence '06-'07
REALMART REALTY - An AFFORDABLE Way to Sell your home
Ranked #15 of 436 Real Estate Brokers in Monmouth / Ocean County
Web Reference: http://www.PatrizioRE.com
0 votes Thank Flag Link Wed Feb 18, 2009
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