FHA Spot Condo Affidavit form 333-3W
Condos are eligible for FHA spot approval on Reverse Mortgage Loans.
A FHA Spot Condo Affidavit form 333-3W must be filled out by the Home Owners Association.
For the HECM Reverse mortgage no more the 10-20% of the total units can be encumbered by FHA insured mortgages, this includes Reverse Mortgages.
Eben Johnson Wisconsin Reverse Mortgage Loan Officer
A FHA Spot Condo Affidavit form 333-3W must be filled out by the Home Owners Association.
For the HECM Reverse mortgage no more the 10-20% of the total units can be encumbered by FHA insured mortgages, this includes Reverse Mortgages.
Eben Johnson Wisconsin Reverse Mortgage Loan Officer
Labels: condo reverse mortgage
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