FHA Approves Many New Florida Condos For 98% Financing In 2010

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February 20, 2014. If a condo meets FHA approval, purchasers of units in the condo are eligible for FHA financing. This is advantageous to existing residents who want to sell their units, or may want to in the future.

to the new approval list pending recertification. condominiums that obtained FHA approval between October 1, 2008 and December 7, 2009 Condominiums that were approved between October 1, 2008 and December 7, 2009 will have their certification remain in.

You should work with your condo association to get it the condominium documentation up to the standards required by Fannie Mae and Freddie Mac. Consider getting the association approved by FHA..

Components of A Warrantable Condo include: The Florida condo purchase must be a primary residence = 25% down payment for a purchase or 25% equity for a refinance. 2. 2nd Florida condo home loan transactions require a minimum 30% down payment for purchase and 30% equity in the Florida condo for a refinance.

This means that if the Condo Project is not approved we can get the Condo Project approved. FHA condo In accordance with the passage of the Housing and Economic Recovery Act of 2008 (HERA), the federal housing administration (FHA) is implementing a new approval process for condominium projects and insurance requirements for mortgages on.

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– New Florida Mortgage The table below can help you identify the best mortgage rates, whether you’re looking to refinance or are looking for a new home mortgage loan. The results may include FHA mortgage rates and non-fha based mortgage rates – it is important to compare your options so you know which mortgage will make the most sense for.

List of FHA approved condos in FLORIDA. Condominium Name Street Address Expiry Date FHA% 1951 MARKET STREET CONDOMINIUM

The Florida Condo association must be approved via condo association questionnaire before you can secure Florida condo mortgage approval. If the condo is on the FHA Approved List you can purchase the condominium as a primary residence with a 3.5% down-payment.

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Condo not approved for FHA- are there other options for financing? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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