Condominium Questionnaire Download For Borrowers

Condominium Questionnaire

Gustan Cho The Mortgage Expert
February 21, 2020 - 2 min read

Gustan Cho Associates are mortgage brokers licensed in 48 states

Project Name
Address
City	State	Zip Code
I . Has control of the project been turned over to the H.OA? Date turned over:			Yes	No

2. Are the amenities complete?			Yes	No
3. Is all construction or phases complete?			Yes	No
4. Are common areas and recreational facilities associated with the entire project (or the subject phase) complete? •If no, does the project developer have sufficient funds for completion?			Yes	No
			Yes	No
5. Is condo project a cooperative?			Yes	No
6. Is the condo project a condo hotel?			Yes
7. Is the project a timeshare or segmented ownership protect?			Yes	No
8. Is the project a multi-dwelling unit condominium (in ‘Which ownership of multiple units Is evidenced by a deed and mortgage?			Yes	No
9. Does the condominium complex represent a legal, but nonconforming use of the land (if zoning regulations prohibit rebuilding to current density in the event of destruction?			Yes	No
IO- Is the project a conversion? if yes is the conversion a gut rehabilitation? (Where the renovation has stripped the property to the shell and all HVAC and electric components have been re laced.			Yes	No
			Yes	No
If the builder is in control of the project, or the H.O.A. has been in control far less than a year, please submit the Declarations, B laws. Insurance Cert, Bud et and Appraisal with the completed questionnaire.
Il. Is the Project built on a Leasehold Estate?			Yes	No
Number Of Phases
			Entire Project	Subject Phase
Total Number of Units
Total Number of Units for Sale
Total Number of Units Sold
Total Number of Units Rented (Investor Owned)
Total Number of Owner Occupant (Principal Residences & Second Homes)
Does any single entity own more than 10% of the total units in the entire project?			Yes	No
Highest number of units owned by one entity
12- is any portion of the project designated Tor commercial use only? If yes, what percentage of the project?			Yes	No

13. Does the condo complex:
a. Allow Daily Rentals? Percentage available for daily rentals			Yes	No

Contain a rental desk?			Yes	No
c. Participate on a mandatory rental pool?			Yes	No
Provide food service?				No
e. Provide daily Housekeeping? f. Provide Blackout dates restricting the owner’s use.				No
				No
14. Is the protect the subject of current litigation?			Yes	No
Please provide a letter of explanation far any litigation.
15. What is the amount currently held in reserves for replacement or repatr of mator components?					s
16. Total number of unit owners currently over 30 days past cue with their monthly H.O.A. fees.
Total dollar amount of past due.
17. Are the taxes for the individual units included In the H-O-A lees?			Yes	No
Projects in which the taxes are included in the H.O.A fees are ineligible.
HOA contact	Phone Number

Download Condominium Questionnaire

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Gustan Cho

Gustan Cho NMLS 873293 is the National Managing Director of NEXA Mortgage, LLC dba as Gustan Cho Associates NMLS 1657322. Gustan Cho and his team of loan officers are licensed in multiple states. Over 75% of the borrowers of Gustan Cho Associates (Gustan Cho Associates) are folks who could not qualify at other lenders due their lender overlays on government and conventional loans. Many mortgage borrowers and real estate professionals do not realize a mortgage company like Gustan Cho Associates exists. We have a national reputation of being a one-stop mortgage company due to not just being a mortgage company with no lender overlays but also offering dozens of non-QM and alternative financing loan programs. Any non-QM mortgage loan program available in the market will be offered by the team at Gustan Cho Associates. Our team of support and licensed personnel is available 7 days a week, evenings, weekends, and holidays.