FHA Condo Approval - Another Project Approved
Here is an actual letter that I received from Brian W. I was contacted by Brian in 2010 to aid him in gaining approval for his condominium project with HUD. By the time Brian had contacted me, he had certainly done his research and was the most informed client with whom I have worked. He had much of the information but he didn't know what to do with it. That's why he contacted me.
This is what he had to say about working with me.
To Whom It May Concern:
After my condominium had been listed for sale for over a year, I came to find out that my Condominium Association was not on the FHA's Approved Condominium Projects list which is a requirement for any buyer wishing to purchase a home using an FHA loan. This was a major cause for my inability to sell my unit.
After getting my Condominium Association to agree that submitting for FHA Approval was the right thing to do for our Association, I was left with the task of how to get this done. I could find very little information from the FHA and our Condominium Management Company was not familiar with the process.
I found Eric Boucher's name on the internet and called asking for assistance. It became clear almost immediately that Eric was extremely familiar with the process and was exactly the person that I needed to get our Condominium Association approved as quickly as possible. Eric provided a comprehensive checklist of all of the information that needed to be submitted to the FHA, where to submit the information, along with expert guidance on gaining and assembling the required information.
The accuracy and completeness of the checklist and guidance that Eric has to offer turns the FHA approval process from a daunting, seemingly endless task into a mere couple of days of paperwork gathering and mailing. My Condominium Association was approved by the FHA on first glance with only a few minor follow-up questions from the FHA due to Eric's assistance in the process.
After struggling with the FHA process for quite some time, it was a relief to find somebody with Eric's knowledge of the entire FHA loan system and I would strongly recommend Eric's services to anybody in need of FHA assistance. I had a signed contract on my Condominium Unit the very same day the FHA approved our Association, and I owe a lot of thanks to Eric's expertise for that.
Quonnipaug Hills Section II, Guilford, CT
Now, I will most certainly admit that it was pure luck that he signed a contract for the purchase of his unit the very same day that his project was approved. However, had the association not been approved, it would have been yet another lost buyer and increased marketing time for his unit.
How many buyers have you lost who could have purchased your unit with FHA financing? Nearly 70% of purchase financing for condos is through FHA. The process is fairly quick and simple. Much of the required information is already in your Association's resale packet. Don't miss out on qualified FHA buyers. Get your condominium project approved with HUD.
The Condominium Project Approval Team at ReadySetLoan is dedicated to helping condominium projects across the nation to obtain their approvals with FHA and the VA or become recertified with FHA. We have assisted nearly 200 condominiums and we can help your association.
ReadySetLoan is an active member of the Connecticut and New England chapters of the Community Associations Institute (CAI) and is a frequent contributor to Common Interest Magazine as an expert in FHA/VA condominium project approvals.
Please contact us with any questions regarding FHA or VA condominium project approvals. You can email me at firstname.lastname@example.org or call me at 404-433-4565. I will be happy to answer any of your questions.
FHA/VA Condo Approval Specialist
404-433-4565 Cell Phone
860-644-3772 Fax Phone
Check out our article in Common Interest magazine on page 19!