Guaranteed Rate, Inc

3940 North Ravenswood

Chicago, IL 60613
Phone 773-290-0505
FHA FULL CONDO QUESTIONNAIRE

Project Name:__________________________________________________________
Address:_______________________________________________________________
Borrower:_____________________________________ Loan Number_______________

1. Is the project a condominium hotel? YES NO

2. Is the project a timeshare or a segmented ownership project? YES NO

(A property right under which the purchaser has access to a property "segment" for a specific time.)

3. Does the project permit a buyer to purchase 2 or more units with a single mortgage? YES NO

4. Is the project a houseboat project? YES NO

5. Is the project a co-op? YES NO

6. Is the project the subject of current litigation in which the HOA or developer is
named as a party to the litigation? YES NO

7. Does the project contain any commercial space? YES NO

If YES, is the designated space more than 25% of the total square footage
of the entire project? YES NO

8. Does any single entity own more than 10% of the total units in the entire project? YES NO
(If the project has fewer than 10 units, does any single entity own more than 1 unit?)

9. Is the project a conversion of an existing building? YES NO

10. What year was the project converted and completed?

11. Has the control of the HOA been turned over to the unit purchasers? YES NO

Date turned over?

12. Are ALL units complete? YES NO

13. Are ALL common areas complete? YES NO

14. Are more than 15% of the TOTAL condo units 30 days or more
delinquent in the payment of their monthly assessments? YES NO

15. Can the project be expanded beyond its current size? YES NO
If YES, number of additional units to be built?

16. Do the unit owners have sole ownership and the right to the use of the project facilities? YES NO

17. Does the project have a rental desk, rental service(lease/rent units), maid or cleaning service, daily or
weekly rentals? YES NO

18. Does the project have a front check-in desk or rental service for leased/rented units? YES NO

19. The amount currently held in a reserve account for future repair/replacement of the project is

$____________

20. Are there any special assessments now approved, or have there been any in the past year? YES NO

If YES, please describe nature of assessment, amount and per-unit charge?

_____________________________________________________________________________

1
 21. Condo Projects with 20 units or more: Does Fidelity Insurance policy cover at least the sum of three
months of assessments on all units in the project plus reserve funds?
YES NO

22. Does an outside, professional management firm manage the project? YES NO
If YES, please provide contact information below.

__________________________________________________________________

23. Is the developer or HOA aware of any of the following conditions/issues which may have an adverse
effect on the project or cause a mortgage secured by a unit in the project to become delinquent
(including but not limited to): defects in construction; substantial disputes or dissatisfaction among
unit owners about the operation of the project or the owner’s association; and disputes concerning unit
owners; rights privileges, and obligations?
YES NO

Subject Phase Entire Project

Total Number of Phases _______

Total number of Units _______ Total number of Units _______

Total number of Completed units _______ Total number of Completed units _______

Total number units For Sale _______ Total number units For Sale _______

Total number units Under Contract _______ Total number of units Under Contract _______

Total number of units Sold (closed) _______ Total number of units Sold (closed) _______

Total number of units Rented(investor) _______ Total number of units Rented(investor) _______

Total Owner-Occupied units (Primary Residences) _______ Total Owner/Occupied units (Primary Residences) _______

Please provide the following insurance information for the project:

Insurance Company:________________________ Agent’s Name:_______________________

Phone:______________________

********PLEASE NOTE*********
THE UNDERSIGNED DOES HEREBY CERTIFY THAT THE INFORMATION ABOVE IS TRUE AND
ACCURATE.

Name of Authorized Signer_______________________________ Title__________________________

Phone _________________________

Signature_________________________________________ Date__________________________

Title 18 U.S.C. 1014, provides in part that whoever knowingly and willfully makes or uses a document
containing any false, fictitious, or fraudulent statement or entry, in any matter in the jurisdiction of any
department or agency of the United States, shall be fined not more than $1,000,000 or imprisoned for not
more than 30 years or both. In addition, violation of this or others may result in debarment and civil
liability for damages suffered by the Department.

THIS FORM MUST BE COMPLETED BY A DIRECTOR, OFFICER, ATTORNEY OF THE

DEVELOPER, HOA OR MANAGER OF MANAGEMENT COMPANY ONLY.

GUARANTEED RATE RESERVES THE RIGHT TO REQUEST ADDITIONAL DOCUMENTATION

AT ANY TIME DURING THE REVIEW PROCESSS