HOA Educational's Initial Questionnaire For HUD/FHA/VA Condominium Approval

The purpose of this questionnaire is to insure that your complex meets the general HUD requirements for condominium community approval. Your answers to these basic questions will also indicate what information and documents HUD will want for certification. After we review this form we will send you a detailed checklist of HUD requirements. Once you return the requested information you will be good to go for HUD/FHA approval.

What Is The Legal Name Of The Condominium Complex

What Type of Business is This Entity?

What Is The Street Address Of The Condo Complex

In What City Is The Condo Complex Located

What State Does The Condo Complex Resides In

What Is The ZIP Code Of The Condo Complex

How Many Units Are In The Condo Complex (Must Be 2 or More)

Does The Condo Complex Have Adequate Hazard and Liability Insurance?

Does The Complex Reside In A Flood Zone?

If The Condo Complex Has 21 Units or More - Does It Have Adequate Fidelity Or Crime Bond/Insurance? (HUD/FHA Requires That You Have At Least Enough Insurance/Bond To Cover All The Money You Have In your Reserve Account PLUS 3 Months of HOA Dues. If You Use a Management Company They Must be Covered Under This Policy OR Have Their Own Policy That Meets HUD Requirements.

Is the 2014 Year End Profit and Loss Statement Showing A Loss?

Does The Condo Complex's Legal Documents Contain A Right Of First Refusal Or A Restrictive Covenant?

You Answered Yes - What Are The Details Regarding The Right Of First Refusal or The Restrictive Covenant?

Is There Commercial Usage Within The Condo Complex?

How Many Units Are Owner Occupied?

Does Any Person Or Entity Own More Than 50% Of The Total Units In The Condo Complex?

How Many Owners Are In Arrears, More That 60 Days Past Due, In Regards To HOA Dues?

Has The Developer/Builder Turned Over Control Of The HOA?

Are There Sufficient Reserves (At Least 10% Of The Monthly HOA Dues) Held In A Dedicated Reserve Account.

Name Of Primary Contact Person

Title Of The Primary Contact Person (HOA Board Member, Home Owner, Realtor, Mortgage Broker, etc.)

Phone Number Of The Primary Contact Person

Email Address Of The Primary Contact Person

Today's Date

Remarks

By Submitting This Form I Certify That, To The Best Of My Knowledge And Belief, The Information Submitted Is True And Correct.

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