FHA may relax condo rules soon
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· Current rules make it hard for many condos to qualify for FHA loans that allow low down payments. (Katherine Frey/The Washington Post). revive the Federal Housing Administration’s condo.
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· Whether a first time home buyer or repeat buyer, FHA loans provide so many advantages to buy a home. FHA even helps buyers purchasing a condo as a primary residence with the same benefits as a regular home. The only caveat is that the condo must report as approved on the FHA approved condo list.
The FHA recently announced temporary changes in some of the rules for a condominium complex to become FHA certified. Is it possible to get an FHA loan for a condominium?. Yes, it is possible – but if you have tried getting an FHA loan for a condominium recently, you are most likely aware that many complexes are not approved by the U.S. Department of Housing and Urban Development for FHA.
NEW YORK (CNNMoney.com) — What the heck happened to the FHA’s loans in Florida? The state dominates the list of troubled metro areas for Federal Housing Administration-insured mortgages. In fact, 16.
fha approval for condo – fha230klenders.com – You can use an FHA-backed loan to finance a condominium, but only in you live in an fha-approved condo. fha Taking Cautious Approach to Rewriting Condo Rules – . Opportunity Through Modernization Act" would streamline FHA’s certification requirements for condo projects, allow more commercial space in FHA-approved condo buildings and relax the.
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