How Associa's FHA
Assist Program Can Help
Completing the FHA approval process alone can be confusing, time-consuming and
overwhelming for boards that are already busy with regular community business.
That's why we offer Associa-managed condominium communities FHA Assist - a
service designed to obtain FHA approval
PITFALLS THAT DELAY APPROVALS
• Insufficient fidelity insurance coverage
• Incomplete insurance certificate
• Income reserve contribution less than 10%
• Incomplete recorded documents – declaration, plat maps, bylaws, etc.
• Cause and cure for deficits reported on year end and year-to-date income &
expense statements
• Delinquencies more than 15%
• Owner occupancy rate of 50% with a minimum of 35%
FHA Assist:
• Acts as a facilitator between associations and the FHA if issues arise
• Identifies, assembles, and submits required materials to the FHA
• Manages approval process
• Collects fees
• Provides a recertification notice before the two year approval expires
For more information on Associa's FHA Assist program, please email
FHAassist@associaonline.com.
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