I am a mortgage breokr. You may be able to get spot approval for a single unit, and qualify for FHA loan. But, the community would have to meet FHA guidelines. One of the guidelines is that a certain percentage of the units must be owner occupied. The fact that they say they are not FHA approved often means that they do not meet certain criteria, such as the owner occupancy rule. Other issues can be construction quality, or the way that the homeowners association is set up. If the owner still has controlling interest in the homeowners association, then you will probably not be able to get FHA spot approval. Was this answer helpful?