Home Buying in 85006>Question Details

Robfair84, Home Buyer in Phoenix, AZ

I'm looking for a condo downtown or close to it but I'm using my VA loan and most of the places I come across are not FHA certified. Any suggestions?

Asked by Robfair84, Phoenix, AZ Tue Jun 4, 2013

Help the community by answering this question:

Answers

16
Hello,

Rob, I hope all is well. I wanted to forward my lender contact information for you if you have yet to find that direct local lender . I specialize in government purchase loans , and our company has been in the valley almost 40 years lending.

Let me know how I may help!

City North/ Desert Ridge Location
Timothy Potempa
Sr. Loan Officer
Office/Cell: 623.570.0781
Fax: 602.464.7396
NMLS:454708

5450 E. High Street Suite 260
Phoenix, AZ 85054

http://www.novahomeloans.com/timothy.potempa
0 votes Thank Flag Link Mon Jul 8, 2013
Hey Rob, how are you doing today?
I would love to assist you with the search of your new home!

Please feel free to contact me at 480-275-9566 so we can discuss in further detail what you would be looking for, how many bedrooms? bathrooms? and what price range?

PS. I look forward to working with you in the near future!
0 votes Thank Flag Link Tue Jun 11, 2013
I can search the MLS to see what is available for a VA loan. How many bedrooms and what is your price range??

Trish
0 votes Thank Flag Link Thu Jun 6, 2013
Hello Rob, have you found what you need yet? You have some good answers by professionals. Please check out this url

http://www.klcsloanteam.com/TheySayWhat

to see what some of my clients and realtors say about me and my service and my loan closings. If you like what you read then call me at 623-340-0934 and I will begin the pre-qualification, stay in communication with you, refer you to some of the BEST REALTORS in the Valley of the Sun, and get your mortgage closed with no surprises and we close on time.

I am a Mortgage Banker in metro Phoenix, AZ. I lend in both Arizona and California where I will be pleased to help you. If you or someone you know is looking for financing options, please feel free to contact me or pass along my information. 623-340-0934 Korene Clopine-Seaman NMLS # 218520 KLCSLoanTeam.com We are Direct Lenders, WE CLOSE LOANS!
0 votes Thank Flag Link Thu Jun 6, 2013
Hi Rob,

Your VA loan is good on any home, and the home does not need to be FHA certified. If you don't already have a lender, we have an in house lender, though GreenBox Mortgage, that can do a VA loan with no problem. I am a Realtor, and I have access to pretty much every home out there on the market. Let me know what you are looking for in a home, and I can get the ball rolling, and start doing some searches for you. You can contact me with any questions through my contact info below.


Best regards,

Jeffrey G Vaughan
America's All In One Real Estate Services, Inc.
7720 E. Evans Road #102
Scottsdale, AZ 85260
602-647-0491
jeffvaughan@arizonasellerfinancing.com
http://www.arizonasellerfinancing.com
0 votes Thank Flag Link Tue Jun 4, 2013
HI Rob. I only work in the downtown Phoenix area... condos and historic homes. You are not crazy, most condo developments in the downtown sector are not FHA/VA certified. The term many use is warrantable.

This is true for a number of reasons, mostly having to do with the number of investor owners.the financial health of the HOA and if they have any litigation going on. There are a few exceptions depending on your price point.

If you'd like to sit down over a cup of java, I like Giant coffee, we could talk about your options and see if we can put together a game plan for success.

It has taken me a long time to get a grip on the downtown market so I know it must be frustrating to you. BTW.. I have an entire section on my website dedicated to downtown condos. http://urbanconnectionrealty.com/condo-loft-and-townhouse-in…
0 votes Thank Flag Link Tue Jun 4, 2013
FHA certification has nothing to do with VA. That said the condo complex must be VA eligible. I would be pleased to assist you as a Mortgage Banker. I can check each one within the VA portal.
I am a Mortgage Banker in metro Phoenix, AZ. I lend in both Arizona and California where I will be pleased to help you. If you or someone you know is looking for financing options, please feel free to contact me or pass along my information. 623-340-0934 Korene Clopine-Seaman NMLS # 218520 KLCSLoanTeam.com We are Direct Lenders, WE CLOSE LOANS!
0 votes Thank Flag Link Tue Jun 4, 2013
Hi Rob,

Yes, many condo complexes will not be approved due to the number of investor owned units. I have a website to use that will let you know whether a complex is approved or not. If you must use your VA, this will be a difficult proposition. I don't know your wants and needs, but I am wondering if you have considered other types of properties that won't have those restrictions. Please feel free to contact me for the web site to check the complex approval or any aspect of your search.

Adam Tarr PC
Citywide Real Estate
480-236-7374
0 votes Thank Flag Link Tue Jun 4, 2013
Dear Rob:

Here are all homes for sale in the Phoenix metro from the MLS. http://link.flexmls.com/ua7p0bh3xot,12 You can sort these into price ranges and neighborhoods you are interested in or ask me to help you.

Townhomes and patio homes are also options.

We can check on the percentages of renters and owners when we find a place you are interested in.

Call with questions.

Jeffrey Masich, Realtor, GRI, MBA
HomeSmart
Arizona homes and land for purchase or sale
http://ArizonaHomesLand.com
JeffMasich@ArizonaHomesLand.com
480-556-0940
0 votes Thank Flag Link Tue Jun 4, 2013
Hi Rob, I can definitely help you find a condo if you are not working with any agents yet. Email me what you're looking for and I can get looking for some and send them to you. Email is nwolfe@hsmove.com Thanks!!
0 votes Thank Flag Link Tue Jun 4, 2013
Rob, to search for all current homes for sale please send a text to 71441 keyword AZRE
0 votes Thank Flag Link Tue Jun 4, 2013
Rob,

I would stay away from condos because most condos are unable to get financing because they are not FHA approved. I would concentrate on looking for a townhouse, patio home,loft or single family home. Please let me know if you have any more questions or if I can be of any further assistance.

Sean Heideman, Broker
Position Realty
Office: 480-213-5251
Fax: 866-232-2256
Web: http://www.PositionRealty.com
0 votes Thank Flag Link Tue Jun 4, 2013
Hello,
Yes, that is correct. if the complex is 51% - 65% occupied by renters then FHA and VA typically doesn't work. If the complex is owned more then 10% by one owner again, it typically isn't able to use FHA or VA either.
Information that I received from my lender is that if you put 25% down this can help some situations with the renter occupied situation.
I can provide you with a list of non-approved. I also work with great lenders that can help in this situation, at least with guidance.
I can also set you up with a personalized search. We would have to weed out the complexes but it will lead us in a closer direction.
Please feel free to contact me.
Dawn Ugorek
Keller Williams - Sonoran Living - Phoenix
480.221.1940
email: DawnUgorek@gmail.com
websites: http://www.AZhouses2homes.com
http://www.DawnUgorek.com
0 votes Thank Flag Link Tue Jun 4, 2013
Give me a call for a good direction to go 253-332-5980. Thanks
0 votes Thank Flag Link Tue Jun 4, 2013
Many of the complexes are not "warrantable" due to high investor ownership rates or HOA financial instability, which makes them not applicable for your financing. Your loan officer should be the one to verify for certain as the list of approved communities does change often.
0 votes Thank Flag Link Tue Jun 4, 2013
Contact your Mortgage Broker or Banker, or your Real Estate Agent and they can give you the website to check for FHA/VA approved properties in your area.
0 votes Thank Flag Link Tue Jun 4, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer