Condominiums, Planned Unit Developments (PUD), or other dwellings served by a home owners association (HOA) may be accepted when the project has been approved or accepted by HUD, VA, FNMA, or FHLMC

Condominiums, Planned Unit Developments (PUD), or other dwellings served by a home owners association (HOA) may be accepted when the project has been approved or accepted by HUD, VA, FNMA, or FHLMC. (The lender’s underwriter is responsible documenting the acceptability of the condo based on secondary market criteria. Refer to the Administrative Notice (AN) for more information on the eligibility of condominiums. PUDs will be accepted by Rural Development without additional documentation from the underwriter as long as all other property and appraisal requirements are met.)

Small residential condominiums that are not served by a home owners association (HOA) based on the condominium documents, may be eligible for GRH financing. (The lender’s underwriter must determine the acceptability of the project’s condo documents.)

Happy Selling

Justin Perry
Sr. Underwriter
Gateway Mortgage Group
1255 W. 15th Street| Ste. 540| Plano, TX 75075

972-908-3390 ext. 125| 918-392-8349 eFax

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9/24/2009