Initial Project Approval Dates New Expiration Date
1972 – 1980 December 31, 2010
1981 – 1985 December 31, 2010
1986 – 1990 May 31, 2011
1991 – 1995 July 31, 2011
1996 – 2000 August 31, 2011
2001 – 2005 September 30, 2011
2006 – 2008 (Sept) March 31, 2011
Why is FHA Approval Important?
In May of 2010 the Home Buying Institute conducted a survey of over 12,000 home buyers. They found that going forward, over 80% (actually, 87%) of home loans will be done through FHA.
By being strategic now, there will be no panic later when selling or buying and FHA funding is needed to consummate the sale. Remember, no more spot approvals, which means now the HOA itself has to be approved for the unit to qualify for FHA loan funding.
See if your Condominium is FHA approved at: http://www.hud.gov/offices/hsg/sfh/faqs/atl1val.cfm
