FHA Spot Approval

Well, if I'm reading your question right, this complex has been there and it's not new construction.. If that is the case then it could be some time. For a complex to be FHA approved, their CC& R's have to be reviewed and approved, as well as a number of other things.. Occupancy ratio of owners vs. renters or vacant, How much the complex has in reserves, and do they have any restrictions that could be considered prejudicial. If the complex has been there for a while and it is not FHA approved, it's probably for a reason... older complexes won't pay the attorney's to re write their CC&R to accommodate FHA, so they usually pass. You could call the association and ask if they have every applied for an FHA approval... That will tell you a lot... if it's a newly built condo, then you might want to get with the builders preferred lender. I will almost never advise using "preferred lenders" for builders, but in this situation, they might already have something work out for an exception... WilliamAcres.com