I went FHA because of the low downpayment requirement but no condos/townhomes will qualify for FHA. I don;t understand. Thanks
I am a Realtor serving the North Broward area. I can assist you in your quest in finding a FHA approved condo.
Cindy Barron
The Keyes Company Realtors
Coral Springs Office
954-298-6678
info@cbarronhomes.com
I have several lenders that will do cono financing with FHA. Please contact me.
Homepath is a great program if you can find them before they are sold. I can pull a list of FHA approved condos if you need it.
Hey there,
That is a common dilemma for condo's in my area too. I know that one of the condo communities I sell at has had FHA variances accepted. Talk to your lender and see if he or she is able to pursue that for the condo community you are interested in. I think there is a small fee, $80, for the application, but it could be worth it....
I know that's not solid advice, but maybe it will lead you to a solution.
Good Luck!
You might also consider foreclosures condo/townhomes which have special financing...
FannieMae backed mortgage Foreclosures: http://www.homepath.com/
HomePath Financing HomePath® Mortgage Financing This special financing is available on Fannie Mae homes with the following logo: The benefits include: Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only) You may qualify even if your credit is less than perfect Available to both owner occupiers and investors Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer No mortgage insurance* No appraisal fees Also eligible for HomePath Renovation Mortgage (see details below) HomePath Mortgage financing is available from a variety of lenders - both local and national.
You may also ask your Realtor if there are any special state-wide programs - for example, in Arizona, we currently have a fabulous state program for qualified applicants where the state will pay 22% of the purchase price of the home toward the downpayment, so the buyer can get a conventional loan with just 3% down! Pretty amazing!
Best wishes...if you don't already have a Realtor working for you and need help with finding a local Realtor, I'd be happy to provide a Referral.
Patty Fisch
West USA Realty Revelation
pattyfisch@westusa.com
Didn’t find what you were looking for? Ask a question!
|
|
|
|
|||||||||||
|
|
|
|
|
|