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Are You Considering Buying a Condo and Will Be Utilizing FHA Financing?
March 9th, 2011 6:41 PM

Are you in the market for buying a condominium and planning to finance with FHA Financing?  If so, you want to be sure that the complex is FHA Approved or you may not be able to obtain your loan.  If the complex is not approved, your loan officer may be able to get the project approved for the Homeowners Association.  Some lenders charge an additional fee for this process. I work with a lender that does not charge for this service.

I recommend that you do your homework right away and verify that the complex is approved.  You can do this at:

www.hud.gov  and go to Resources and from there click on HUD Approved Condominium Projects.  You can look up the complex by the name or city.  If it is not there, then you will need to talk to your Loan Officer and Realtor about what options you have available.

I hope you will find this information helpful!

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Posted by Teresa Molina on March 9th, 2011 6:41 PMPost a Comment

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