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FHA CONDO QUESTIONNAIRE From: Atlantic Pacific Mortgage Corporation 302 Fellowship Road, Suite 110 Mt. Laurel, NJ 08054 Sent From: Return Fax: Seller Name: Borrower: Phone: 800.296.1188 General Fax:.

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The criteria for a full review is that the condominium needs to have 51% or more of its units be an owner occupant. This means it needs to be a warrantable condominium unit. Mortgage lenders do not want to see any more than 15% of the condo homeowners association dues delinquent for more than 30 days.

Effective January 1, 2022, Freddie Mac and Fannie Mae came out with additions to their condominium questionnaires (sometimes now referred to as the “Condominium Supplement”) that are to be completed by condo associations for loans associated with unit purchases.

The homeowners' association, or HOA, must fill out a condo questionnaire that your lender requires in order to process your loan.

The limited review has 10 yes or no questions: Is the project new and attached? Does the project operate like a resort condominium, condotel, leasehold, live-work, or have a rental desk? Is the Homeowners Association still controlled by the developer? Is the project subject to additional phasing or add-ons?

Fannie Mae will now require all condo lenders to determine whether the condominium association has imposed any special assessments. The lender must document the loan file with the following: The reason for the special assessment. The total amount assessed and repayment terms.

The fee varies depending on the size of the project and other factors but usually ranges between $50 and $100. Some condo projects, however, do not work with an HOA management company and may not have the resources to complete the questionnaire in a timely manner.

The Condominium Project Questionnaire (Form 1076) helps lenders collect data to determine condo project eligibility. This form is optional; however, lenders are encouraged to use and retain the form in the loan file.

ingly, the statute makes it clear that Condominium Associations are entitled to charge for questionnaires up to the following amounts: 1. $150.00; 2. the 'reasonable' cost of photocopying; and 3.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232