Movement Mortgage is thrilled to announce a significant enhancement to their FHA (Federal Housing Administration) condo review process, designed to help you outpace the competition and excel in the market. The restructured approach features expedited project reviews and a dedicated team of four DELRAP (Direct Endorsement Lender Review and Approval Process) underwriters ready to lead the way!
New FHA Condo Process
- Single Unit Approvals (formerly Spot Approvals): Completed in 10 days or less!
- DELRAP Approvals (in-house): Completed in 21 days or less!
Why Choose FHA for condo purchases?
FHA offers a government-backed program committed to providing affordable housing financing for condominiums, whether for purchase, refinance, or HECM. Here’s why it’s a game-changer:
- Transparency: FHA provides public access to a database of approved, expired, and rejected projects, ensuring full visibility.
- Flexible Assessments: Appraisal and HOA/Management Company data can determine if repairs are classified as “routine” or “critical.”
- Insurance Flexibility: FHA has no cap on insurance deductibles for named perils.
- Cost-Free Sponsorship: We offer project review and sponsorship to HOAs that provide the required documentation at no cost.
This streamlined process speeds up approvals and gives you a significant edge in the condo market. Work with Movement Mortgage to make homeownership more accessible and grow your business!
For more information, reach out to trusted Movement Mortgage lenders Jolene Messmer, Carese Busby, or Rick King.
