In Puerto Rico, a popular product used by prospective homebuyers is an FHA-insured loan, which provides greater flexibility to the buyer and one of the lowest down payments in the market. While property costs continue to rise on the island, buying a condominium is an attractive alternative for many families.

For the past four months, the Atlanta Homeownership Center (AHOC), the Office of Single Family, and the Office of Field Policy and Management from the HUD San Juan Field Office have joined forces to educate and guide different key partners and stakeholders on the advantages and benefits of condominium certification and recertifying by the Federal Housing Administration (FHA). The San Juan team initiated this outreach campaign participating in a series of workshops and fairs as speakers and with HUD informational booths around the island to motivate and instruct citizens, homeownership association boards, administrators, the mortgage industry, and real estate professionals.

Subject matter expert Yoel Sánchez, from the Processing & Underwriting Division at the AHOC played a pivotal role in educating, clarifying, and encouraging the involvement and participation of the industry to increase the number of certified condominiums. Mr. Sanchez's presentations at events from the Puerto Rico Condominium & Access Control Association, the Puerto Rico Association of Realtors, Puerto Rico Real Estate Association, and the Mortgage Bankers Association of Puerto Rico, guided the audiences on the steps needed to submit an error-free condo application package for the first time to HUD, and the latest on FHA guidelines, regulations, and changes related to recertifications, including that approval can now be requested every three years.

HUD was also part of an educational panel at the National Association of Hispanic Real Estate Professionals (NAHREP). San Juan Field Office Director Efraín Maldonado and Sánchez showcased FHA’s condo public search web tools and how real estate professionals can use these to educate current and future homeowners. In total, the forums attracted more than 1,550 professionals and have increased interest and enthusiasm from the industry and leaders to continue promoting the FHA-insured condo applications. More than 100 local condo associations will be pursuing the FHA condo recertification.

Search for FHA approved condominiums; learn more about FHA insurance for condominiums. Have FHA specific questions? Email answers@hud.gov

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