FHA Condo Approval Specialist: FHA Condo Approvals – Recent Email Inquiry: FHA Concentration

FHA Condo Approvals – Recent Email Inquiry: FHA Concentration

FHA Condo Approvals – Recent Email Inquiry: FHA Concentration

Activerain.com helps to generate loads of email inquiries which, many times, turn into clients for which I am VERY appreciative!

It has become obvious that these emails and responses should be converted into blog articles so my goal will be to create a new blog article each week based on recent email questions that I receive.

Here is an email that I received recently regarding FHA concentration levels:


I came across FHA Concentration article of yours online and was wondering if you could confirm that the exception process is still available.  I just found out today that the condo I have a contract on (and have had inspected) has a 60% FHA concentration.  The condo seems to meet each of the requirements you listed, but I was not clear on what the process to have this exception granted is.

I appreciate any insight you can provide.

My response was as follows:

To my knowledge, HUD has not altered their ruling regarding FHA loan concentration.  Nothing needs to be done by you with HUD in your case.

HUD has 2 levels of approvals: project level and loan level.  I work on the project level side of things helping condominium projects to get approved with HUD.  Once the project is approved, FHA loans are allowed in the project, as you know.

Loan applications go through a separate approval process with HUD (besides the typical loan approval process of the buyer/borrower being approved with the lender) and lenders have to verify certain information about the project.  This is referred to as loan level.

Since the project already has 60%+ FHA concentration, I would assume that you shouldn’t have a problem getting another FHA loan through.  The lender will verify that the project meets those requirements mentioned in the article and the loan will be made, pushing the FHA concentration higher.

I hope that this answers your question.  Please let me know if I can be of assistance to you.

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 askeric@readysetloan.com 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

ready set loan condo team


 CAI-CT logo

 Check out our article in Common Interest magazine on page 19!

Find Eric Boucher with ReadySetLoan Condo Team on Google+

Comment balloon 1 commentReadySetLoan Condo Approval Team • June 11 2013 12:49PM


No one I know, has more knowledge about the FHA condo approval process than you. You are also responsible for my participation with Activerain two years ago, thank you for that.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) almost 6 years ago