Fha Condo Questionnaire Form
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1FHA CONDO QUESTIONNAIRE
From: Atlantic Pacific Mortgage Corporation
Phone: 800.296.1188
302 Fellowship Road, Suite 110
General Fax: 856-924-2020
Mt. Laurel, NJ 08054
Sent From: ______________________________
Send to Fax: _________________________________
Return Fax: ______________________________
Attention: ____________________________________
Seller Name:
Project Name:
Borrower:
Property Address:
Loan Number:
Date:
Phase:
Unit Number:
1. How many units are in the subject project?
2. How many units in the project are owner-occupied?
3. Does any single entity own more than 10% of the units?
Yes
No
4. Is the project 100% complete and has construction been completed for at least one year
Yes
No
(as evidenced by issuance of the final or temporary/conditional CO for last unit conveyed)?
Yes
No
5. Has control of the Homeowners Association (HOA) been transferred to the unit owners?
Yes
No
6. Is the subject unit a manufactured home?
7. Is the project any of the following: condominium hotel, timeshare, houseboat, resort
Yes
No
condominium, a property with rental office, a property allowing short-term rentals less than 30
days, multi-unit dwelling (more than one unit per condominium unit)?
8. Does the project’s budget provide for the funding of replacement reserves for capital
Yes
No
expenditures and deferred maintenance in an account representing at least 10% of the budget? (a
copy of the HOA’s budget may be required)
9. Is there pending litigation?
Yes
No
If yes, please describe:
10. Is liability insurance in place providing at least $1 million of coverage for bodily injury and
Yes
No
property damage per occurrence?
Yes
No
11. Does the condo project’s mast insurance policy provide “Walls-In” coverage?
12. Are more than 15% of the total units in the condominium project 30 days or more past due on
Yes
No
the payment of their condominium/association fee payments?
13. What is the amount of fidelity bond insurance carried by the HOA?
Yes
No
Amount $__________________
Yes
No
14. Are units of common improvements located in a flood zone?
15. If in a flood zone, is flood insurance in place equal to the replacement cost of the project (less
Yes
No
land costs) or up to the National Flood Insurance Program (NFIP) standard of $250,000 per unit,
whichever is less?
HOA Certification:
I hereby certify the following:
The information contained on this form was obtained from an authorized representative of the project’s
•
homeowners association
HOA Contact information
•
Name:
o
Address:
o
Title & Organization or Company Name:
o
Signature: _____________________________________________________
Date: _____________
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