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FHA Condo Questionnaire Limited Review Date DEALS Loan No. Borrower(s) Project Name Phase # (if applicable). Project Address (including county) Name of Association/Management Company and Phone No.
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How to fill out fha condo questionnaire limited
How to fill out FHA condo questionnaire limited:
01
Obtain a copy of the FHA condo questionnaire limited form from your lender or the Federal Housing Administration website.
02
Read the instructions carefully to understand the purpose and requirements of the form.
03
Provide accurate and up-to-date information about the condominium project, including its name, address, and legal description.
04
Fill in the contact details of the person or entity responsible for managing the condominium project.
05
Answer questions regarding the ownership and control of the project, such as the percentage of units owned by a single entity and whether any party has the power to amend the condominium documents.
06
Provide information about the finances of the project, including the annual budget, the percentage of units delinquent in assessments, and any pending litigation or judgments affecting the project.
07
Answer questions about the physical characteristics of the condominium project, such as the number of units, the availability of parking, and the existence of any commercial units.
08
If applicable, provide information regarding the project's compliance with local zoning and land use laws, as well as any environmental hazards or restrictions affecting the property.
09
Ensure all the necessary supporting documentation is attached to the completed form, such as financial statements, insurance policies, and any relevant legal documents.
10
Review the completed form for accuracy and completeness before submitting it to your lender or the appropriate authority.
Who needs FHA condo questionnaire limited:
01
Real estate developers or property owners who want to obtain Federal Housing Administration (FHA) approval for a condominium project.
02
Lenders who require the completion of the FHA condo questionnaire limited form as part of the loan application process for a condominium unit.
03
Homebuyers who wish to purchase a condominium unit with an FHA-insured mortgage loan, as the lender may request the completion of this form to assess the eligibility of the condominium project for FHA financing.
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