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FHA and VA approved condos | Latest News
Warrantable & Non-Warrantable Condo Mortgage Rules Updated
Loans are available in all 50 states. The FHA and VA maintain lists of approved communities, but don't despair of the unit you want isn't in a development on those lists. Both agencies have made it easier for condo and co-op associations to get their ... read more
FHA and VA approved condos
Why is approval important and valuable? The Federal Housing Authority, commonly known as the FHA, does not issue mortgages, contrary to popular opinion. They do provide mortgage insurance to lenders on behalf of qualified applicants and as such, are ... read more
FHA Approved Condo Requirements
you can also use conventional or VA loans to buy or refinance a home in an FHA approved condo development. FHA loan terms may not exceed 30 years and may be used to finance condominium units that are detached, semidetached, row houses, or located in mid or ... read more
My condo does not accept FHA and VA loans. Can't sell my house.?
In order to qualify for FHA and VA loan programs, condos must meet certain criteria, and communities/entire associations must be approved by the U.S. Department of Housing and Urban Development for FHA, or the U.S. Department of Veterans Affairs for VA ... read more
Only 30% of Condo Buildings are FHA Approved
Nationally, only about 30 percent of condos are approved for FHA financing, and even fewer are VA-approved, said Rita Tayenaka, broker-owner of Coast to Canyon Real Estate in Mission Viejo, Calif. Tayenaka, who is a member of NAR’s Federal Financing and ... read more
New FHA Condo Rules Expand Access to Reverse Mortgages
... that seeks to reinstate a process similar to “spot approvals” in unapproved condo developments, as well as create a range of thresholds required for FHA approval, including the minimum owner-occupants in approved condo projects and limits on ... read more
Help clients buy condos with federal home loans
An approval of a condo project from the FHA is good for two years. If a USDA condo ID is needed, you will use a condo ID from either a VA-approved, Fannie Mae-approved or FHA/HUD-approved property. But the condo must be in a designated rural area and meet ... read more
How to get FHA approval for a condo?
Some of these people with the FHA’s help may be able to get into your condo to live. The FHA approval for a condo does not usually take too long. It is up to what option you chose when it comes to the approval process. There are a few ways to get your ... read more
New Lending Guidelines Making It Tough on Some Condo Buyers- Condo HOAs and Owners You Can Help
FHA Approval for the condo building VA Approval for the condo building FNMA (Fannie Mae) approval for the condo building Read on to learn why these important condo building approvals might help preserve values in condo buildings, in any condo market. read more
Need to Know: Purchasing a Condo with a VA Loan
If you live in California, like Dennis, a new law effective on July 1, 2016 states that HOAs must disclose in their annual reports whether their common interest development (CID) has been approved by FHA and VA. Condos are considered CIDs. Once the effects ... read more
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