Linda Rogus, Real Estate Pro in Vienna, VA

Does anyone know which condos are FHA approved in Rittenhouse square?

Asked by Linda Rogus, Vienna, VA Sun May 9, 2010

Help the community by answering this question:

Answers

7
Hi Linda,

I know for sure the Dorchester is approved. I will check with my mortgage broker who has an updated list since the recent changes in FHA condo policy. I've heard that they may be easing up on the owner occupancy ratios due to all the recent foreclosed units. In Philly, I know of several condominium developments now entirely in bankruptcy, others being auctioned off, etc..

I hope the FHA does something to allow homebuyers to take advantage of the highly discounted deals that are coming available at 38 N. Front St., 257 N. 2nd St., The Murano, etc..

If you'd like to contact me anytime after Monday afternooon, I'll have an updated list that I can send you via e-mail or telephone. I look forward to hearing from you.

All the best,
Larry Lichtman
REALTOR & Property Manager
Your Real Estate Resource For Life
CELL (267) 254-7994
LarrySellsRealEstate@gmail.com
2 votes Thank Flag Link Sun May 9, 2010
You can also go to http://www.checkfhaapproval.com they show approval status and eligibility criteria. The site was originally licensed to banks only but now anyone can use it. The article link below speaks to this as well.

http://www.globest.com/news/1715_1715/losangeles/301275-1.html
1 vote Thank Flag Link Fri Jul 30, 2010
Even if it's not on the FHA site doesn't mean it isn't approved if documentation is provided. Like others have stated the level of owner occupancy, reserve levels and delinquencies is key. It also cannot be a timeshare or coop as far as I know
0 votes Thank Flag Link Sat Feb 5, 2011
https://entp.hud.gov/idapp/html/condlook.cfm

If the condo is not on this website, there is a process to get approved. (Often needed for smaller Condo associations.) I have the questionnaire to fill out along with the document checklist. There are differences between existing, new construction, and conversions.

The occupancy % has been temporary lowered for FHA:

New Construction/Conversions- 30% owner occupied
Existing Buildings- 50% owner occupied

I give everyone personal attention; just call me at 215 266 7227 and let's see how i can help.

Great time to buy! I'm negotiating $8000 credit now that Federal tax credit is over.

Joe
0 votes Thank Flag Link Tue May 11, 2010
Linda,

It looks like the dirct link that has been provided before does not work. Go to: http://www.hud.gov/assist/siteindex.cfm and then select "Condos, Approved List" link. It will take you to https://entp.hud.gov/idapp/html/condlook.cfm

Good luck!
0 votes Thank Flag Link Sun May 9, 2010
Linda,

If you would like for me to run you a search on this for a certain price range, please let me know. Most times the listing agents will put in the MLS if FHA financing is an option.

Amanda J Saunders
Prudential Fox and Roach
amanda.saunders@prufoxroach.com
0 votes Thank Flag Link Sun May 9, 2010
To find out which condominiums are approved for FHA mortgages, go to https://entp.hud.gov/idapp/html/condlook.cfm, select Pre HRAP/DELRAP, State and City. For Status, select All. That will give you a list of approved condos in the city you want to purchase.
0 votes Thank Flag Link Sun May 9, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer