Home Buying in Columbia>Question Details

Justin, Home Buyer in Columbia, MO

I need properties that are FHA approved. The problem is no agents seem to know what properties qualify; I was

Asked by Justin, Columbia, MO Tue May 13, 2008

under the impression that this was their job. What's the best way to find an FHA approved property?

Help the community by answering this question:



I provided you with a link to the FHA Resource Center. There is an area on their site where many questions are asked and answered. Single family homes are usually approved for FHA financing as long as the price parameter and the condition requirements are met. If you are looking for attached housing (condos & townhomes)...those need to be approved for FHA. One issue for non-approval on attached housing is if their association has the clause "1st right of refusal". If the association removes that clause, you may be able to get on the spot approval. There is also a 51% owner-occupancy requirement on new loans with FHA in a condo/townhome community. Here is a site from FHA that will allow you to look up attached housing communities to see if they are approved..



I hope this information helps!
6 votes Thank Flag Link Tue Jun 17, 2008
Here is a link to check if a condo development is FHA approved. https://entp.hud.gov/idapp/html/condlook.cfm
Single family homes and townhouses are good for FHA, just make sure that a townhouse is not registeded as a condo if so the develpoment would need to be approved.

Michelle Hensley'
Danville, CA
1 vote Thank Flag Link Sun Mar 24, 2013
James ahhh….I see in that case I understand exactly what time frame you are referring to. We always have the same problem whenever we have to deal with management companies. To be honest unfortunately nationwide there doesn’t seem to be but a few that are worth the time. If you are still having that problem one thing I would recommend is call Jon Smith @ 818-338-6520 his company has helped our bank out many times in helping with this process as a whole. Tell him Jason Redkins told you to speak with him. He’s a real nice guy and they handle the juggling act better than anyone we have tried to work with. Good luck!
1 vote Thank Flag Link Tue Aug 3, 2010

If you are looking for homes that are "FHA Insurable" and/or "203K Eligible", I might be able to help you. In an effort to help, I would need to know your goals for purchasing a FHA Approved home. What part of town? What is your price point? Why are you purchasing the home? etc. etc.

If you'd like to talk more about these goals, please feel free to call or email me at any time.


David A. Patterson, Broker CRS
Keller Williams Realty
4400 Saint Andrews Road
Columbia, SC 29212
(803) 429-9010

Visit My Blog - Your Comments are Welcomed


"A journey begins with a designation in mind."
1 vote Thank Flag Link Tue May 13, 2008
The simplest way would be to go to HUD.gov and look for approved properties under the resources tab. But may I ask why you would limit yourself to only FHA approved properties when conventional financing allows for the same low down payment options? As you can tell going FHA limits the properties you're able to purchase. If you go conventionally you can still place between 3% and 5% down an look at all properties. Don't limit yourself. Go conventional. You'll want to thank me later.
0 votes Thank Flag Link Tue Dec 17, 2013
Hi Justin,
In general FHA will insure the mortgage of most residential properties including multi-family properties. I recently completed a continuing education class on FHA mortgages. The process requires the home being under contract for the FHA to then appraise the property to determine if it will be insured. FHA insured homes allow for a 3.5% down payment program. You do need to speak to your lender to gain a pre-approval letter to determine the amount of mortgage you will qualify for prior to actively doing home search.


Leah Henderson
0 votes Thank Flag Link Sat Aug 20, 2011
Jason you never tried to deal with the management companies in our area. The lender does not take that long but the management company may take that long to reply. A lot of the condo assoc. do not even have full docs on condocerts and your has to go door to door to beg if they don't have their current set. Saw one assoc yesterday where the units had peeling and the wood clab boards were starting to warp, exposed wiring on some of the exterior light fixtures. I asked one of the neighbors that were walking by about the condition and if anything was planned to be done. Their reply was as long as the monthly fees stayed low and the place didn't fall down they were happy. That went over real big with my buyer and scratch one condo assoc off the list.

By the way I need a statement letter for a property in an HOA that is closing end of this month. The title company has called and left a message for the person, emailed twice, and has not received a reply. They called again today and were told that they needed to be patient and the person that does that will call them back.

We need a good management company in our area but the poor ones seem to get hooked up with the builders and once in place seem to stay.
0 votes Thank Flag Link Tue Aug 3, 2010
James if you are having an entity take 90 days to do a Delrap that is very scary. The process should take no more than 6 weeks tops. Most lenders are currently not allowed to submit Delrap though (see article link below). Also as I stated in my previous post that URL is going to be a lot more helpful than the HUD site…their site doesn’t even show FHA saturation. To be honest if people out there are still trying to use the HUD site as a standard they are going to be in for a rude awakening come closing time. We quit using their site as a reference almost 2 years ago, and we currently fund over $150million in FHA loans a month.
0 votes Thank Flag Link Tue Aug 3, 2010
Justin check the link that Laura posted to check for condos that are on the approved list. If the property is not on the approved list the association may be able to get someone to DELRAP the property and get them on the approved list if they qualify. This is not a quick process and depending on response time from the parties involved can take 90 days or more. On a single family home the FHA approval is a little more subjective. No one can tell you if a single family is FHA approved. The appraiser may get out to the property and give a conditional approval, that meens there are things that need to be done to the property to get a full approval. This can be as silly as putting a handrail on porch stairs because the appraiser feels that the drop is to far off the side. That drop can be as little as 18 inches be there done that!
0 votes Thank Flag Link Tue Aug 3, 2010

They just went nationwide for anyone that may still be looking.... I have used their service and it's like getting a carfax report for a condo!
0 votes Thank Flag Link Mon Aug 2, 2010
I don't agree that all properties are FHA approvable as long as they are within your loan parameters. There are strict guidelines as far as wells and septic tank systems that can exclude them from any type of FHA financing. All areas of the house must be in good shape also. The property must meet cooking guidelines (ie., if there is no stove, you will not get your loan approved) as well as heating, etc. Getting a 203k loan will cost you at least another 5% minimum in closing costs, on top of the traditional closing costs. Your time to close will also be dragged out to 60 and 90 days.

In Northern California most lenders will not even look at a traditional FHA backed loan on the foreclosures. Have a 203k loan? Forget it if it's a foreclosure. No banks will touch it. The guidelines are too strict and they don't want to wait 60-90 days for your loan to close.

The realtor is not an inspector. They are the ones who ultimately deny or approve a property for FHA financing. It can be very subjective. Good luck on your FHA hunt. You'll need it.

David Rainey
Sonoma, CA
0 votes Thank Flag Link Sat Sep 12, 2009
Hello, Justin,

Randy is correct is stating that all property would qualify for FHA financing. To add to that, it is not the property in question, it is the buyer. As long as the property in question falls within the buyers qualification parameters (Price and affordability Range) he/she will be able to purchase. For more information on properties in Columbia, SC please visit http://www.cbunited.com/howardrose
0 votes Thank Flag Link Mon Jun 16, 2008
Justin -

All properties qualify for FHA financing as long as they are within the particular guidelines for your particular loan parameters. What price range are you looking in? There could also be a location issue depending on how rural a property you are looking at. Where are you looking?

I have been a Realtor in Columbia for over 17 years and recently moved to the Fort Mill, SC area but still help people buy and sell real estate in Columbia.

I will be happy to pull every single property that meets your criteria and email the listings to you.

Good luck and take care

Randy Lindsay
Coldwell Banker
Web Reference: http://www.randylidnsay.com
0 votes Thank Flag Link Wed Jun 4, 2008
They can potentially all qualify... you just need to look up the subdivision on the list.

Web Reference: http://getprequalified.com
0 votes Thank Flag Link Sun May 18, 2008
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