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Fannie Mae Form 1076A/Freddie Mac Form 476A. inium Project Questionnaire. Addendum. This Addendum is applicable to both inium and cooperative projects. It must be completed by an authorized representative of the Homeowners Association (HOA) /Cooperative Corporation.
Does Fannie Mae require a condo questionnaire?
The inium Project Questionnaire (Form 1076) helps lenders collect data to determine condo project eligibility. This form is optional; however, lenders are encouraged to use and retain the form in the loan file.
Who fills out the condo questionnaire?
The inium Project Questionnaire (Form 1076) helps lenders collect data to determine condo project eligibility. This form is optional; however, lenders are encouraged to use and retain the form in the loan file. A substantially similar form may also be used in its place.
What is the purpose of a condo questionnaire?
To determine the eligibility status of your inium building, an authorized representative of a homeowners association board, which could be a board member, community association manager, community association lawyer or other project consultant, must use a form on Freddie Macs website to request whether a note
What is form 1076?
Government-sponsored enterprises (GSEs) have developed standardized Condo Project Questionnaire forms (1076/1077). Although optional, we recommend these forms. They offer lenders a clear and consistent approach to collecting condo project information from HOAs.
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How do I know if my condo is Freddie Mac approved?
The condo questionnaire is typically filled out by the Homeowners Association (HOA) or the property management company that oversees the inium complex. This step is absolutely vital in getting a mortgage for your inium, as it provides a detailed picture of the propertys financial and legal standing.
What is a condo questionnaire template?
The questionnaire asks a series of questions relating to the condo associations financial health, insurance coverage, bylaws and rules, common areas, current and pending litigation, and any other important information that may impact the units value or the buyers ability to secure financing.
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