Until recently, HUD enabled an FHA loan for a single condominium unit to be possible even if the entire condominium association was not FHA approved.

FHA eliminated single approval on February 1, 2010. Now an entire condominium development must apply to HUD and be granted FHA approval before a buyer can purchase a unit in an association with an FHA approval.

With almost half of all new loans going FHA, we would be missing out on a significant pool of prospective buyers if we were not FHA approved.

First-time homebuyers make up a significant segment of the condominium market, and can only purchase with an FHA loan because of the lower down payment requirements.

FHA approval opens a larger pool of potential buyers, units will sell faster and command higher prices due to the law of supply and demand. Higher sale prices mean higher appraised values for all condo units in the community

With FHA approval, our association has something that competing associations don't have, namely a larger pool of potentail buyers, and potentially higher sale prices. We also give prospective buyers and existing owners added reassurance, since being an FHA-approved condominium association means a safe investment and an association that is on good financial footing.