Higher deductible killed conventional and FHA - Now what?

[Tom LaRocque]

My condo is an HOA that is suddenly non-warrantable for conventional financing. To save money, management raised the wind and hail insurance deductible from 5 to 10 percent. That exceeds the 5 percent max allowed by Fannie Mae, at least in Colorado.

I've been told the higher deductible also effectively killed FHA financing. (This HOA was not FHA approved, but now even single-unit "spot approval" is no longer possible.)

Who has dealt with this misfortune anywhere else?

Where can I see (in writing) the max allowable deductibles - both for conventional and FHA? I've heard different stories.

Is FHA truly out of the question now? Or could someone to get FHA spot approval?

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