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Condo & PUD Matrix Reference Sheet Classification & Type ...

Page 1 of 6. Condo & PUD Matrix Reference Sheet Classification & Type DEFINITION PRE-SALE/ occupancy DOCUMENTATION & REQUIREMENTS. (Must be Complete on 1008). Established Appraisal PUD: Attached: Unit is 100% Control of HOA: Homeowners Association turned over to unit owners ESTABLISHED E complete None 1 million Master Insurance Policy for the Project (applies to attached Detached: No review only). required New or proposed Appraisal PUD: Attached: Unit is 100% Control of HOA: No requirements NEW F complete 50% Presale (as confirmed by 1 million Master Insurance Policy for the Project (applies to attached Detached: No Review appraiser on page 3 of appraisal). only). required LIMITED REVIEWS: Established Appraisal ATTACHED Unit & Common are 100% IApprove Lending Limited Review Condo Questionnaire ESTABLISHED complete If subject is non-owner, 51% of Master Insurance Policy for the Project Condo PROJECTS No Additional phasing or project must be primary or 2nd home Control of HOA: Homeowners Association turned over to unit owners Q annexation Ineligible if Lender has targeted project with marketing Completed Conversions do not require Engineer s Report New Appraisal SITE CONDOS: NEW P IApprove Lending Limited Review Condo Questionnaire None Master Insurance SITE CONDOS: Q Established Subject Unit must be 100% complete detached dwelling ESTABLISHED Control of HOA: No requirements FULL REVIEWS: Units &

in a residential apartment building and have the right of exclusive occupancy of a specific unit in the building. FHA-approved condo projects for loans with Conventional and VA financing Houseboat project “Live-work” type condominiums; usually used for artist‟s studio, workshops, factories, or galleries.

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Condo & PUD Matrix Reference Sheet …

iapprovelending.com

Page 1 of 6 2/21/2013 Condo & PUD Matrix Reference Sheet Classification & Type (Must be Complete on 1008) DEFINITION PRE-SALE/OCCUPANCY DOCUMENTATION & REQUIREMENTS

  Sheet, Types, Reference, Classification, Matrix, Condo amp pud matrix reference sheet, Condo, Condo amp pud matrix reference sheet classification amp type

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