I'm trying to find the laws on what makes a condo complex available for FHA loans. I hear it has something to do with the amount of money on reserve and the owner/occupancy ratio. Does anyone know if there is a copy of these laws online?
This blog posting has some good info: http://www.massrealestatelawblog.com/new-stricter-fha-condominium-lending-regulations-and-guidelines-sure-to-chill/. I won't duplicate the list in this response, but there are quite a few requirements nowadays.