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More Ways to Access

        Your Home Equity





        Apply Today to Get Your Condo

        Approved by the FHA






        Condominiums approved by the Federal Housing               c     Management agreement between
        Administration (FHA) are properties that meet                 Homeowners Association (HOA) and
        requirements established by the U.S. Department of            management company
        Housing and Urban Development (HUD) and can be             c    All legal documents including Covenants,

        purchased using FHA loans, such as the Home Equity            Conditions & Restrictions (CC&Rs) (plus
        Conversion Mortgage (HECM) loan. We are here to               amendments) and recorded site plans
        help you obtain approval! We will walk you through
        the process and assist with gathering the required         c   Signed or recorded bylaws

        documentation.
                                                                   c   Articles of incorporation filed with the state

                      To the right are the
             documents that must be included                       c   Financial documents
                    with your application!                             n Budget for current year
                                                                       n Budget for previous year, including year-end results
                                                                       n Current balance sheet, income statement, and YTD
        Once all documents are gathered, we can help you           financials including delinquency report and reserve details
        submit to your local HUD office for approval. Please       (within 60 days)
        allow up to 5 months to process your application.
                                                                   c     Declarations page of crime/embezzlement

                                                                      policy that management firm has to cover
                                                                      HOA


                                                                   c     Declarations page of liability policy



                                                                   c     Fidelity bond must be in place and equal at
                                                                      least 3 months of dues plus reserves
                                                                        n $300,000 in dues ($100,000/month)
                                                                          + $1,000,000 in reserves
      Call today for more information!                                      $1,300,000 bond


                                                                   c       Declarations page of flood, hazard,
                                                                      and wind policy

                                                                       n Master policies for all buildings

                                                                   c     Condo Questionnaires                     AAG081
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