Cohousing-L Mailing List: FHA Approval Documents

[Sharon Villines (sharon]

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
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org

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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