|FHA Approval Documents||<– Date –> <– Thread –>|
|From: Sharon Villines (sharonsharonvillines.com)|
|Date: Mon, 11 Jun 2012 14:33:47 -0700 (PDT)|
Here is a copy of the checklist of documents that Home Advantage FHA Condo Experts requires for FHA approval. With this, we will be on the approved list. I don't know if this approval has to be renewed but we keep having to renew the documents because they can only be 30 days old. We make to one stage and then there is a hold up and we have to redo somethings to get to the next stage. This organization only charges you if they actually get the approval — $500 as I remember. I assume that means they are also pretty sure you will be approved before they take your case. Contact info and checklist are below. They also provide sample form letters for the letters people have to write. Sharon ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org ================================= Jeff Dickinson, President FHA Condo Experts 11555 S.E. 8th Street, Suite 200 Bellevue, WA 98004 206-852-9711 Use this checklist to collect the necessary documents required for an FHA Condo Project Approval Submittal: ____Condominium Declaration and all amendments, restatements ____Bylaws, signed and adopted ____Rules and Regulations ____Condominium Survey Maps and Plans with Legal Description including Site Map or Recorded Plat Map ____ Annual Budget (actual or proposed, at least 10% of HOA Fee’s going to reserves, not more than 15% of homeowners delinquent – 30 days or more on HOA fees) ____Management Contract for management of condo (If applicable) ____FEMA Flood Map (can be obtained online through FEMA website) ____Pending Special Assessment Analysis (Letter A explaining signed by HOA officer on HOA letterhead) ____Outstanding or Pending Litigation Analysis (Letter B explaining signed by HOA officer on HOA letterhead) ____Estimated Construction Completion Date (Letter C explaining signed by HOA officer on HOA letterhead) ____ Rental policy, rental cap, owner occupancy percentage (Letter E explaining signed by HOA officer on HOA letterhead) ____Federal Tax ID Number for HOA _______ ____Articles of Incorporation of HOA filed with the State ____Number of homeowners delinquent on HOA dues mor e than 30 days. Answer: ______ ____Number of homeowners owning more than 1 unit. Answer: ______ ____Special Assessments or Litigation: If Yes, explain___ ____Plan or evidence of Transfer or Control from Developer to Homeowners (Letter D Explaining signed by HOA officer on HOA letterhead) ____Equal Employment Opportunity Certificate (Form HUD 92010) signed by HOA Officer ____Builder’s Certificate of Plans, Specifications and Site (HUD Form 92541, not required for condo projects already built and fully transferred to unit owners) ____Copy of Condo Reserve Study
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