In order to purchase a condo with an FHA loan, the condo association that runs the condos needs to be approved by HUD. That sounds easy enough, but it is a process that is hard to come by, especially in the wake of the mortgage crisis. In fact, thousands of condos that were once approved […]
FHA Condos – What is Approved and What Isn’t?
If you are in the market to purchase a condo and were hoping to get FHA financing, you might be in for a surprise. Not every condo association is approved by HUD for FHA financing. So how do you know which properties are approved and which aren’t? And what does it mean to be approved […]