FHA Single Unit Approval


Effective: October 15th, 2019

The FHA has launched a Single Unit “Spot Loan” Approval Process for established condominium developments! This unique approval provides homeowners and purchasers with an ability to obtain FHA mortgage financing for a condo unit in a development that does not have a global project approval.

Borrowers can now avoid the lengthy process of FHA Project Approval by obtaining a Single Unit Approval or “Spot Loan” on their unit.  A “Spot Loan” approval is valid for FHA HECM/Reverse, Refinance and Purchase mortgages.

The process for FHA Single Unit/Spot Loan approval includes a mandatory review of the condominium by-laws, budget, insurance and includes an ownership review to determine key risk factors for lending within the development.

National Condo Advisors staff, comprised in part by former FHA condo approval employees, has created two key review and approval processes to ensure that eligible condo units care approved for financing quickly and compliantly. 

Quick Links

FHA Single Unit Approval For Lenders

FHA Single Unit Approval for Homeowners