What is a detached condo?
A detached condo is defined as any condo unit that is completely detached from other condo units in the project. The unit may share no adjoining walls, ceilings, floors, or other attached architectural elements (such as breezeways or garages) with any neighboring unit. A detached condo unit may be in a project consisting solely of detached units or in a development containing a mixture of attached and detached units.
Site condos in which the unit owner owns the detached condo unit and the land upon which the unit is built are a type of detached condo. The waiver of project review applies for new and established projects.
For more information, see B4-2.1-02, Waiver of Project Review.
Related Articles
Common special property types
Common special property types are Condos and Manufactured Homes. This is not a full list of all guidelines but a starting point with basic information. Condos FHA The Condo must already be approved through FHA. If not there are two options for ...
How to Order an Appraisal Overview
Overview The Appraiser must obtain all of the following before beginning an appraisal: A complete copy of the executed sales contract with all addendums for the subject, if a purchase transaction; The land lease, if applicable; Condo questionnaire ...
Housing or Parsonage Income
Housing or parsonage income may be considered qualifying income if there is documentation that the income has been received for the most recent 12 months and the allowance is likely to continue for the next three years. The housing allowance may be ...
How to Calculate Military Income
Active service military including Reserves are paid with a Leave and Earnings Statement (LES) There can be different types of pay in addition to their base pay. Flight or hazard pay, rations, clothing allowance, quarters’ allowance, and proficiency ...
How to Calculate Overtime, Bonus and Commissions
Overview Overtime, Bonus and Commission income are considered variable income sources. These sources of income normally vary from month to month, and receipt of these is usually dependent of a number of factors. This type of income must be verified ...