Form 921 A – Fill Out and Use This PDF

The Form 921 A, known as the Homeowner’s Association Certification, is a document used in the process of evaluating the suitability of two to four-unit established condominiums for certain types of loans. It collects detailed information about the condominium project, including unit ownership, project completion status, any ongoing litigation involving the homeowners’ association (HOA), and insurance coverages, to ensure that the project meets specific lending criteria. To learn more about how to properly fill out this form, click the button below.

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Form 921 A PDF Details

The Homeowner’s Association Certification, commonly referred to as Form 921 A, serves as a comprehensive tool for evaluating the standards and specifics of a condominium project ranging from two to four units. This form delves into various critical areas, such as the total number of units and their occupancy status, the completion of common elements, and whether the project is expected to undergo further phasing. It also assesses the ownership and rights regarding the project's facilities and common areas, alongside the ownership spread among individuals or entities. Furthermore, it addresses potential red flags such as litigation involving the homeowners’ association, environmental factors that could impact the property, restrictions on sale that might affect the free transfer of title, and the nature of ownership - whether fee simple or leasehold. Additionally, the form inquires about the unique operations of the property, including whether it functions as a condo hotel/motel or engages in short-term rentals, and scrutinizes the usage for commercial purposes. Insurance-related queries probe into the coverage extents for the common elements and whether the units lie within a flood zone, encapsulating an all-around view on the standing and integrity of the condominium project. This documentation is essential for lenders and parties interested in ensuring the condominium meets the limited review requirements set by regulatory entities such as FNMA, facilitating informed decision-making in the real estate and lending spheres.

Question	Answer
Form Name	Form 921 A
Form Length	1 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	15 sec
Other names	homeowners' association certification form 921, condo certification form, condo cert, what is condo form 921

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Homeowner’s Association Certification – Form 921 A

Two to Four Unit Established Condominiums

Date:	Loan#:	Contact Name & Phone:
Project Name & Address:

1.	Is the subject a 2-4 unit condominium?	Yes No

a.Total Number of Units: ________

b.Total Number of Units Sold (under contract or closed): _______

c.Total Number of Owner Occupied or Second Home Units: _______

2.	Are all common elements and/or facilities 100% complete?	Yes		No
3.	Is the project subject to additional phasing and add-ons?	Yes	No
4.	Do the unit owners, through the homeowners’ association, have sole ownership interest in and
	rights to the use of the project’s facilities and common areas?		Yes	No
5.	Are the amenities/recreational facilities owned by the HOA?		Yes	No
6.	Does any one person or entity own more than one unit?	Yes	No

a.If yes, list how many each own:

_______________________________________________________

7.Is the HOA involved in any litigation, mediation, arbitration or other dispute resolution process?

Yes No

a.If yes, explain:

__________________________________________________________________

8.Are there adverse environmental factors affecting the project as a whole or individual units?

Yes No

9.Do the projects legal documents include any restrictions on sale which would limit the free transfer of title? (i.e. Age Restrictions, First Right of Refusal, other deed/income restrictions) Yes No


10.	Are the units owned in fee simple or leasehold?			Fee Simple	Leasehold
11.	Does the property operate as a Condo Hotel/Motel, provide short term rentals or any type of
	hotel services?	Yes	No If yes, describe:________________________________________

12.Is project a timeshare, a houseboat project, a manufactured housing project, or provide segmented ownership? Yes No

13. Is any part of the project used for commercial purposes? Yes No

a. If yes, what % of square footage?

____

b.What type of commercial use?

___________________________________________________________

INSURANCE
14. HOA is name insured on master policy insurance?	_____________

15.Are common elements/limited common elements insured to 100% replacement costs?

Yes No

	Coverage $	Deductible $			Expiration Date

16.	Are units or common improvements located in a flood zone? Yes					No
	a. If yes, is the coverage amount 100% or the max available?					Yes No
17.	Is the HOA insured for General Liability?		Yes	No
	a. If yes, amount per occurrence $
18.	Is the HOA insured for Fidelity Bond?		Yes	No
	a. If yes, amount $

The above information was obtained from the following Homeowners Association Representative

Name (Please Print)		Phone

Position/Title		Date

---------------------------------------------------------------------------------------------------------------------------------------

I certify the property is in a project that meets FNMA’s limited review requirements.

	______________________
Lender’s Underwriter	Date
	Nov 1 2010

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Step 1: Click on the "Get Form" button above. It is going to open our pdf editor so that you can start filling out your form.

Step 2: When you launch the editor, you will get the document prepared to be completed. Apart from filling in different blanks, you may as well perform other things with the file, specifically writing your own textual content, editing the original text, adding graphics, affixing your signature to the form, and more.

Pay close attention while filling in this form. Make sure that all required blanks are done correctly.

1. To start off, when filling in the condo cert, start with the area containing next blank fields:

Completing segment 1 of condo certification

2. Just after performing the last part, go to the next part and fill in all required particulars in all these fields - Yes No, Are the units owned in fee simple, Fee Simple, Leasehold, hotel services, Yes No If yes describe, Is project a timeshare a, segmented ownership, Yes No, Is any part of the project used, Yes No, a b What type of commercial use, If yes what of square footage, INSURANCE HOA is name insured on, and Yes No.

Filling out part 2 in condo certification

3. In this particular step, check out Is the HOA insured for Fidelity, Yes No, If yes amount, The above information was obtained, Date, Phone, Date, and Nov. Each one of these should be filled in with utmost accuracy.

Part number 3 in submitting condo certification

Be extremely careful when filling out Phone and The above information was obtained, because this is where most users make a few mistakes.

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Form 921 A – Fill Out and Use This PDF

Form 921 A PDF Details

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