Why condominium associations should become HUD/FHA condo approved – For some people there’s been a stigma related with HUD and that is no longer the case – people buying in your price point are buying and need more mortgage options. Gone are the days of FHA Mortgage light documentation an...
If the Condo Complex Has 21 Units or More - Does It Have Adequate Fidelity or Employee Crime Insurance/Bond? (HUD/FHA Requires that You Have At Least Enough Insurance/Bond To Cover All the Money You Have in Your Reserve Account(s) PLUS 3 Months of HOA Dues.) If You Use a Management...
Who sets FHA loan interest rates? The answer to that question involves several factors-many potential FHA borrowers asking this question really want to know more than who the regulatory body is for FHA loan interest rates-they also want to know how rates are affected by other factors such as...
Realtors Press HUD for Quicker Action on FHA Condo RulesByline: Brian Collins WASHINGTON -- The National Association of Realtors is calling on the...Collins, Brian
Owner Occupancy Limits and Total FHA Financing Percentage Unchanged The biggest disappointment of the new rules is that the main impediment to FHA condo financing remains unchanged, and that’s the 50% rule. Before any new buyer can obtain FHA financing, 50% of a project’s units be sold to...