Florida News: FHA working on plan to approve more condo

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Florida News: FHA working on plan to approve more condo FHA working on plan to approve more condo mortgages – FHA working on plan to approve more condo mortgages. The good news is that in today’s economy, we have job growth, low unemployment and wage gains that have provided an additional shot in the arm.".

How to Know if a Condo is FHA Approved! Hello Ibis. To get a reverse mortgage against your condo, the entire complex must become FHA-approved. HUD/FHA changed the rules in 2009-2010 to make it more challenging to get financing against a condo. I’d be more than happy to speak with your association contact to discuss the possibility of applying for FHA-approval.

FHA PROPOSES NEW APPROVAL PROCESS FOR CONDOMINIUM DEVELOPMENTS. Proposed rule brings back spot approvals; is intended to be more flexible, less prescriptive and more reflective of market.

FHA working on plan to approve more condo mortgages. The good news is that in today’s economy, we have job growth, low unemployment and wage gains that have provided an additional shot in the arm.". Florida Realtors Headquarters – Orlando: (407) 438-1400 Office of Public Policy.

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Also, just because FHA says you can get a condo loan does not mean the lender you have chosen will agree to fund such a loan. Further, to complicate matters the other direction, just because a condo complex is absent from the approved fha condo list does not mean the lender won’t accept a "spot appraisal" and approve it, because the lender might.

“The biggest issue on the production side for rental housing is going to be what does this mean for the way the FHA processes its applications. s symptomatic of the new way the government is.

Under the new guidelines, FHA will be able to approve loans for single condo units up to 10% of any uncertified building with 10 or more units. For FHA-certified buildings, up to 75% of units will now.

(See sample floor plan. Next week: condo sales king bob rennie has views on how to bring down the cost of housing in Vancouver. When subscribing to a newsletter edition you’ll also get early notice.

Buying a condominium often means you have to put up with a few extra challenges when it comes to qualifying for a condo mortgage. Read more about this.. which limits the number of FHA-approved condominiums that are available on the market.. Mortgageloan.com is a news and information.