Condominium Fha Approved
FHA may reinstate spot approvals for individual condo units – She said HUD is working to improve the approval process and considering changes such as reinstating spot approvals for individual condo units in projects that aren’t already FHA approved. Source:.
New FHA eligibility rules could rattle condo market – I expect you will have frantic sellers [of condo units] pushing management companies" to get their buildings approved. The eligibility issue dates from November 2009, when the FHA published new rules.
FHA condo buyers: Beware of the lifestyle enhancement fee – Yes, using an FHA loan requires that the condominium you are buying is in a tract approved by the FHA. The FHA approval status is kept up to date on the U. S. Department of Housing and Urban.
FHA approved condos are primarily residential condominiums that meet the property eligibility requirements and are eligible to be purchased using an FHA Loan. The FHA insures one unit condos in which you can get a 15 year or 30 year fixed-rate mortgage.
FHA loan rules for condo mortgages include an approval requirement–any condo eligible for an FHA insured mortgage must be on the official list of FHA-approved condo projects. Some readers want to know if there is a list of the FHA requirements that a condo project needs to comply with in order to be included on or added to the FHA-approved list.