What are the maximum number of homes per well in order to qualify for a FHA loan? Where is this limit found in the rules/?

Asked by Kenr, North Carolina Sun Oct 2, 2011

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Shane Milne, Mortgage Broker Or Lender, South Jordan, UT
Sun Oct 2, 2011
Q: What are the maximum number of homes per well in order to qualify for a FHA loan?
A: 4.

Q: Where is this limit found in the rules?
A: Below is where you can find that information.

http://portal.hud.gov/hudportal/documents/huddoc?id=aprval.pdf

Q: How would shared well agreements be treated?
A: Wells shared by up to four properties are acceptable provided that there is an acceptable legal agreement between the property owners, the quality of the water is found acceptable, there is sufficient capacity, and it is in accordance with local well codes. A shared well must have a shared well agreement and shall be binding upon signatory parties and their successors in title.

Water Systems: Shared Wells - http://www.hud.gov/offices/hsg/sfh/ref/sfh1-21c.cfm

Central Water and Sewage Systems (Ownership and Organization) (4075.12) - http://portal.hud.gov/hudportal/HUD?src=/program_offices/adm…
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