FHA Loans for Condos Getting More Difficult
FHA loan guidelines are changing for condos. HUD now says that no more than 30% of the total units in a condominium project can be purchased with FHA loans.
They also now say that at least 50% of the total project units must be sold before closing the first escrow using an FHA loan.
It seems odd that the federal government would make it more difficult to buy a home in a struggling real estate market, as well as create a new barrier for the home building industry.
They also now say that at least 50% of the total project units must be sold before closing the first escrow using an FHA loan.
It seems odd that the federal government would make it more difficult to buy a home in a struggling real estate market, as well as create a new barrier for the home building industry.
Labels: fha condo loans, fha loan
posted by CRHOME.com at
8:39 PM
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