FHA Condo Questionnaire: Full Review (HRAP) Free Pre-Qualification

Allow us to perform a free pre-qualification to determine your condominium’s eligibility for FHA.

"*" indicates required fields

General Information

Condominium Project:*

Your Name*

First Last

Company Name*

Your Email*

Your Phone*

Condominium Project Information

Legal Name of Project:*

FHA Condo Approval ID Number:

Street Address:

City:*

State*

Zip Code:*

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Condominium Association

Condominium Association Name:*

Association Tax ID Number:

Street Address:*

City:*

State*

Zip Code:*

Phone Number:

Fax Number:

Association Contact Name:*

Email:*

This is the email we will use for our primary contact on this project.

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Management Company

Management Company Name:*

Management Company Tax ID Number:

Street Address:*

City:*

State*

Zip Code:*

Phone Number:*

Fax Number: Section

Management Contact Name / Title:*

Email:*

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Project Eligibility:

Does the Condominium Project, Condominium Unit(s) (Unit) or Common Elements have any of the following features?

Cooperative ownership*

Yes

Condominium hotel or “condotel”*

Yes

Mandatory rental pooling agreements that require Unit owners to either rent their Units or give a management firm control over the occupancy of the Units*

Yes

Timeshare or segmented ownership projects*

Yes

Houseboat project*

Yes

Continuing care facility*

Yes

Multi-dwelling condominiums (more than one dwelling per Unit)*

Yes

Coastal Barrier Resources System (CBRS) location*

Yes

Adverse determination by FHA for significant issues*

Yes

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Transfer of Control

Has Control of the Condominium Association been transferred from the developer/builder to the Unit owners?*

Yes

Date of Transfer*

Month and Year in MM/YYYY format

Do existing contracts entered into by the builder/developer prior to the Transfer of Control contain a 90 Days or less notice requirement for termination?*

No contracts exist

Contracts with a 90 Day or less notice requirement exist

Contracts without a 90 Day or less notice requirement exist

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Legal Phasing

Is the project 100% complete, including all construction or renovation of Units for all Condominium Project Legal Phases?*

Yes

Have all the Units in the completed Legal Phase(s) been built out and issued at least a Certificate of Occupancy (CO) or its equivalent?*

Yes

Total planned Legal Phases for the Condominium Project*

Completed Legal Phases as evidenced by built out Units and a CO or its equivalent*

Number of completed Legal Phases with FHA approval*

Number of completed Legal Phases submitted for FHA approval*

Total planned Units for Condominium Project*

Completed Units as evidenced by a CO or its equivalent*

Units in Legal Phase(s) submitted for FHA Condominium Project Approval*

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Occupancy Requirements by Construction Type

Owner-occupied Units includes any Unit:

i. occupied by the owner for any portion of the calendar year and that is not rented for a majority of the year;
ii. listed for sale, and not listed for rent, that was previously occupied by the owner as described in (i) above; or
iii. sold to an owner who intends to occupy the Unit as described in (i) above.

A Unit owned by the builder/developer is not an owner-occupied Unit. A non-owner occupied Unit refers to a unit that does not meet the definitions above

Your project is*

Existing Construction (greater than 12 months old)

New Complete Project (less than 12 months old); or

Legal Phase

Total Number of Units in the Condominium Project*

Owner-occupied Units as defined above*

Non-owner occupied Units as defined above*

Total Number of Units in the Condominium Project

i. Multi-phased Condominium Project: Include the total number of Units in the first declared Legal Phase and cumulatively on subsequent Legal Phases.
ii. Single-phased Condominium Project: Include all Units.

Total Number of Units in the Condominium Project*

Owner-occupied Units as defined above*

Non-owner occupied Units as defined above*

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Individual Owner Concentration

Does any single owner or Related Party own more than 1 unit?*

Yes

Individual / Entity Name

Number of Units Owned

Individual / Entity Name

Number of Units Owned

Additional Individual / Entity Names*

Accepted file types: doc, docx, pdf, Max. file size: 128 MB.

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Financial Stability and Controls

Please upload the association’s budget

Max. file size: 128 MB.

Required to complete pre-qualification

Does the Condominium Association have a reserve account for capital expenditures and deferred maintenance?*

Yes

Is the reserve account funded as required by FHA?*

Yes

Is there a reserve study? If “Yes,” date performed*

Yes

Date of Reserve Study*

Does the Condominium’s Association budget show that the budget provides for periodic funding to maintain the reserve account balance as required by FHA?*

Yes

Does the Condominium Association maintain separate accounts for operating and reserve funds?*

Yes

If a management company is used, does the Condominium Association’s management company maintain separate records and bank accounts for the Condominium Association?*

Yes

Does the Condominium Association restrict the management company from drawing checks on, or transferring funds from, the reserve account of the Condominium Association without approval from the Condominium Association?*

Yes

Has the project experienced a Financial Distress Event within the last 36 months:*

Yes

sought protection under bankruptcy laws; been placed into receivership (mandated or voluntary); been subject to foreclosure or any seizure of assets by creditors; or offered a Deed in Lieu (DIL) of Foreclosure?

Is there a dated legal document evidencing resolution and a letter of explanation describing the cause of the event and measures taken by the Condominium Association to prevent a future event?*

Yes

How many Units are 60 Days or more past due on their Condominium Association fee payments? (Excluding late fees or other administrative expenses)*

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Insurance Requirements

The Condominium Project must have Hazard Insurance, Liability Insurance, Fidelity Insurance, and Flood Insurance. See the “Required Documentation” section.

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Commercial/Non-Residential Space

Does the Condominium Project contain any commercial space?*

Yes

Total Square Footage*

Total Square Footage of Commercial/Non-Residential Space*

Total Square Footage of Residential Space*

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Live/Work

Does the Condominium Project have any Units with non-residential space inside the Unit (Live/Work Units)?*

Yes

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Litigation

Is the Condominium Project or Condominium Association subject to pending Litigation?*

Yes

Litigation explanation (500 character max)*

Is the Condominium Project or Condominium Association subject to any other litigation risk?*

Yes

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Signature

I certify that I have completed Sections 2 and 3 of the questionnaire using information and resources that, to the best of my knowledge and belief, are correct and reliable, and that I have submitted the required documentation. WARNING: HUD will prosecute false claims and statements. Conviction may result in criminal and/or civil penalties (18 U.S.C. 1001, 1010, 1012; 31 U.S.C. 3729, 3802).

Name (Printed)*

Title:*

Date*

Type full name for e-Signature*

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Name

This field is for validation purposes and should be left unchanged.