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What is a condo questionnaire form?

A condo questionnaire is a document lenders require to fund a property designated as a townhouse or condominium that's part of a homeowner's association. The document offers evidence that condominium projects such as Eighty Seven Park Miami comply with the lender's underwriting prerequisites.

How long is a condo questionnaire good for?

The streamlined PERS submission process for established projects requires the Condominium Project Questionnaire (Form 1076), or a substantially similar form, to be completed within the past 180 days.

How do you see if a condo is Fannie Mae approved?

Quickly and easily determine if a condo project meets Fannie Mae's requirements. Fannie Mae's Condo Project Manager\u2122 (CPM\u2122) is a free, web-based tool that enables lenders to quickly and easily certify a condominium project (or a legal phase of a project). The project must be eligible under the Full Review requirements.

Does Fannie Mae have an approved condo list?

Fannie Mae accepts delivery of FHA mortgage loans in FHA-approved condo projects that appear on the FHA-approved condo list.

What is FNMA condo appraisal form?

An Individual Condominium Unit Appraisal Report (ICUAR) is for appraisals of one-unit properties in condo projects based on interior and exterior property inspections. Also known as Fannie Mae Form 1073, appraisals reported on this form must be completed in accordance with the UAD Specification.

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What is a form 1076?

The Condominium 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?

A condo questionnaire is a document lenders require to fund a property designated as a townhouse or condominium that's part of a homeowner's association. The document offers evidence that condominium projects such as Eighty Seven Park Miami comply with the lender's underwriting prerequisites.

How much is a condo questionnaire in Florida?

Accordingly, the statute makes it clear that Condominium Associations are entitled to charge for questionnaires up to the following amounts: 1. $150.00; 2. the 'reasonable' cost of photocopying; and 3.

What makes a condo Fannie Mae approved?

For a non-established project to be eligible for Fannie Mae financing: all of the common areas must be complete, AND. all of the units in the project or in the subject property's legal phase (if the project is being developed in phases) must be \u201csubstantially complete\u201d which means drywall and windows are installed, AND.

What is a condominium project questionnaire?

The Condominium 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.

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