Anyone know if this condo community (Borgata) is FHA approved?

Asked by Ben Teal, Dallas, TX Tue Jan 20, 2009

See link to property here: http://www.trulia.com/property/1039322882-10655-Lemon-Ave-13…

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7
Joan Patters…, Agent, Rancho Cucamonga, CA
Tue Jan 20, 2009
BEST ANSWER
Mr. Teal,

I left a message with the association management company to find out if they are still FHA approved. The name of the association is Cannon Managment 951-354-5365. Ask for Kristin, she is the property manager for this account. I have been told they are approved for FHA, but I would like to hear it from the management company direct.

Kind regards,

Joan Patterson, B.A., A.S.P., G.R.I., Realtor
Keller Williams Realty
8250 White Oak Avenue, Ste 102
Rancho Cucamonga, CA 91730
951-204-1864
1 vote
Joan Patters…, Agent, Rancho Cucamonga, CA
Sat Mar 6, 2010
That's great to know for sure Tami! I know some complexes do, some don't but I will for sure remember this. That complex sure has a lot of units. I have shown many units there, but none of my clients have written offers. It will save a lot of people from getting their hopes up only to be squashed at the 11th hour. I wish there were an easier way to know if a complex will go FHA or not. Many lenders are supposed to have some kind of a list to help everyone!

Make it a great day!

Joan Patterson, B.A. G.R.I., A.S.P. Realtor, License #01431647
Keller WIlliams Realty
8250 White Oak Avenue,Ste 102
Rancho Cucamonga, CA 91730
951-204-1864

http://www.inlandempirehouse.com

http://www.bloginlandempirehouse.com

http://www.calljoan4homes.com
0 votes
Tami Stark, , Rancho Cucamonga, CA
Fri Mar 5, 2010
Hi Mr. Teal:
I know for a FACT that this complex cannot go FHA. I have sold and have several in there now....so I am well aware of this status. It is not because of lease ratio, it is because the complex never ORGINALLY received FHA approval....that simple....NOR can it be spot approved...already tried that too...don't waster your time on a FHA offer, you will fall out of escrow in the 11th hour.
Thanks, Tami Stark
Keller Williams
909-319-2970
http://www.tamistark.com
Web Reference:  http://www.tamistark.com
0 votes
Joan Patters…, Agent, Rancho Cucamonga, CA
Fri Jan 30, 2009
Mr. Teal,

Many times after a certain amount of condos have been sold in a complex, they won't let FHA financing happen in that complex anymore. Your best bet after checking with the association is to check with your lender as they have approved lists as to whom they will fund for FHA as well.

Make it a great day!

Joan Patterson, B.A., A.S.P., G.R.I., Realtor
Keller Williams Realty
8250 White Oak Avenue, Ste 102
Rancho Cucamonga, CA 91730
951-204-1864
0 votes
Julie Real E…, , Rancho Cucamonga, CA
Thu Jan 29, 2009
Hello there. I have actually submitted offers with FHA lending to condo's for sale in Borgata. I have never been told that they were not FHA approved. There is a lot of activity in Borgata and it is in a VERY desirable location. The 210 fwy, Vons supermarket, Trader Joes, Gas Station. If I can be of any more help, please feel free to blog away!!!
0 votes
Joan Patters…, Agent, Rancho Cucamonga, CA
Tue Jan 20, 2009
Mr. Teal,

I have a lender do a spot check to see if the association qualifies for FHA. It can take a little bit of time. I can get back to you if you would like. I can also find out who the association is and call them. Let me know if you would like me to do these things!

Thanks,

Joan Patterson, B.A., A.S.P., G.R.I., Realtor
Keller Williams Realty
8250 White Oak Avenue, Ste 102
Rancho Cucamonga, CA 91730
0 votes
Lori Rossi, Agent, Warwick, RI
Tue Jan 20, 2009
Mr. Teal-Try this link

https://entp.hud.gov/idapp/html/condlook.cfm

I hope that helps!
0 votes
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