According to a recent report by the National Association of Realtors, HUD will be enacting new FHA condo rules. These rules will change a few things, but most importantly they will extend the approval process to individual condo units and extend the FHA certifications of condominium developments from two to three years. This change will ease the compliance obligations put on condo boards likely adding to the total number of FHA approved condos. Providing additional affordable housing options will allow a whole new group of first time home buyers to enter the market. These changes, along with the already low FHA mortgage rates, will make it that much easier for families to buy a property of their own. These changes come as NAR and HUD have been working together to solve a recent decrease in condo lending in recent history and provide affordable options to more families across the United States. The rule changes will take affect in mid October 2019.

 

 

Below is a list of condos in Charlotte County that are currently approved for FHA financing per the department of HUD website:

 

Condo Name	Address	Composition of Project	Expiration Date
WATER’S EDGE @ HERITAGE OAK PA	WATER OAK DRIVE PORT CHARLOTTE, FL 33948	Name: Water’s Edge at Heritage Oak Park; Project: Five 2-story Buildings, consisting of 52 units.	11/14/2018

 

 

Below is a list of condos in Collier County that are currently approved for FHA financing per the department of HUD website:

 

Condo Name	Address	Composition of Project	Expiration Date
ARIELLE AT PELICAN MARSH	2255 PELICAN MARSH BLVD NAPLES, FL 34109	27-2 Story 6,8, and 10 units buildings with 230 total units with a community pool and cabana.	09/17/2017
HUNTINGTON WOODS	HUNTINGTON WOODS DRIVE NAPLES, FL 34112	13 Duplexes consisting of 26 units	11/08/2018
NAPLES WINTERPARK	NORTHWINDS DRIVE NAPLES, FL 34112	Low-Rise 184 Units	06/29/2018
OSPREY POINTE AT PELICAN MARSH	WHIMBREL WATCH LANE NAPLES, FL 34109	96 units	01/05/2019
STONEGATE OF EAGLES	CYPRESS VIEW DRIVE NAPLES, FL 34113	38 Units	05/13/2018
THE ORCHARDS CONDOMINIUM	GARDNER DRIVE NAPLES, FL 34109	30 Buildings, 2 Story, Townhome Style	05/19/2019

 

 

Below is a list of condos in Lee County that are currently approved for FHA financing per the department of HUD website:

 

Condo Name	Address	Composition of Project	Expiration Date
BIRCH COURT	1027 SE 46TH LN CAPE CORAL, FL 33904	6 Units	03/23/2018
CASA DI FIORI	119 WINDING PINES CIRCLE CAPE CORAL, FL 33909	BUILDINGS 13&18 (28 UNITS) WHEN CoMPLETED WILL CONSIST OF 296 UNITS IN 22 SEPARATE PHASED 2-STORY BUILDINGS	03/21/2018
CREEKSIDE PRESERVE	CREESIDE PRESERVE LOOP FORT MYERS, FL 33908	PHASES 38,39,40 COMPLETED 12 Units WHEN PROJECT IS COMPLETED,THERE WILL BE 42 PHASES WITH 168 UNITS. 2 STOREY 4 UNIT BUILDING	12/20/2018
GLASTONBURY AT THE PLANTATION	NEW MARKET STREET FORT MYERS, FL 33913	Project will consist of 108 homes in 27 phases, each planned to contain a two 2 story residential building with 4 homes with attached garage.Phase included: 2001-2007 & 2023-2027 (12 buildings with 4 units per building)48 units	04/25/2018
RIVERSIDE CLUB	1900 CLIFFORD STREET FORT MYERS, FL 33901	49 units (7 floor highrise bld)	10/23/2017
SORRENTO	SOSTA LANE BONITA SPRINGS, FL 34135	Phase 16, 4 units: When completed will consist of 156 units, Phases 1-39.	12/23/2017
VILLAGES ON COURT SIDE LAKE II	LORENE DR ESTERO, FL 33928	90 units	04/04/2018