FHA Single Family Housing Policy Handbook 4000.1, II. ORIGINATION THROUGH POST-CLOSING/ENDORSEMENT > D. APPRAISER AND PROPERTY REQUIREMENTS FOR TITLE II FORWARD AND REVERSE MORTGAGES > 6. Condominium Projects — c. Site Condominium
HUD effective date: 08/19/2024 · section II.D.6 · Handbook 4000.1
FHA Single Family Housing Policy Handbook 4000.1, Part II — c. Site Condominium (08/19/2024).
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Verbatim provisions from FHA Single Family Housing Policy Handbook 4000.1, II. ORIGINATION THROUGH POST-CLOSING/ENDORSEMENT > D. APPRAISER AND PROPERTY REQUIREMENTS FOR TITLE II FORWARD AND REVERSE MORTGAGES > 6. Condominium Projects — c. Site Condominium — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
FHA Single Family Housing Policy Handbook 4000.1, Part II — c. Site Condominium (08/19/2024)
c. Site Condominium (08/19/2024) i. Definition A Site Condominium refers to: • a Condominium Project that consists entirely of Single Family detached dwellings that have no shared garages, or any other attached buildings; or • a Condominium Project that: o consists of Single Family detached or horizontally attached (townhouse-style) dwellings where the Unit consists of the dwelling and land; o does not contain any Manufactured Housing Units; and o is encumbered by a declaration of condominium covenants or a condominium form of ownership. ii. Required Analysis and Reporting The Appraiser must report the appraisal on Fannie Mae Form 1073/Freddie Mac Form 465, Individual Condominium Unit Appraisal Report.
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