Home Buying in Orlando>Question Details

ceejay2792, Renter in

Where can you get the most current FHA approved condo associations and houses in Florida? The HUD site is not up-to-date.

Asked by ceejay2792, Wed Dec 4, 2013

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FHA = Ugly Loan with very few choices!

Why would a good credit borrower limit their choices, put MORE money down with an FHA loan and pay that now LIFE OF THE LOAN monthly MI (Mortgage Insurance) as well as that ....Brutal.... FHA MIP Fee of 1.75 in Points financed on top of the loan??

Good borrowers can choose from many more condo projects and purchase with only 3% vs. 3.5% down and with NO PMI!

See program #2 below:

97% LTV- NO PMI
97% LTV- CONDO- NO PMI
90% LTV- 2nd Home- NO PMI
90% LTV- JUMBO- NO PMI
85% LTV- Super Jumbo- NO PMI

85% LTV- Invest. /Rental
80% LTV- Foreign Nationals
70% LTV- Manf. Homes over 90k

STATED INCOME ALT-up to Super Jumbo

90% LTV- Short Sale, BK, Foreclosure Forgiveness
80% LTV- FIX n’ FLIP Invest. Prop.
75% LTV- Foreign Nationals
70% LTV- Soft and Hard Money

COMMERCIAL PROGRAMS-nationwide

Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
http://WWW.PRO-OPTION.COM
Ph: 888 662 4404
#204296

Prior Service: U.S. MARINE CORPS
====
0 votes Thank Flag Link Sun Dec 8, 2013
As noted, the HUD site is best for condos. When is comes to houses, it really just depends on it's condition.
0 votes Thank Flag Link Sun Dec 8, 2013
Hi There:

HUD website is the most updated data that you can use for that purpose. below is the link to their website:

https://entp.hud.gov/idapp/html/condlook.cfm?CFID=1559778&am…

Hope this helps.

Abraham Bidhendi
Top Producer Realtor® with over 26 years of experience
Awarded as Exit's TOP Buyer side Transactions for the State of Florida
Exit Realty Access, LLC
Direct: (407) 744-2533
Fax: (407) 444-9925
Email: REOsofflorida@msn.com
Search Entire MLS At: http://abidhendi.orlandopropertiesonline.com/search
Kissimmee Office: 391 N. Main St., Kissimmee, FL 34741
Altamonte Springs Office: 660 Palm Springs Dr., Suite D, Altamonte Springs, FL 32701
0 votes Thank Flag Link Wed Dec 4, 2013
RECENTLY CLOSED THIS LOAN:

NO FHA approved condo restrictions!

97% LTV-
Condo Purchase -
NO PMI with closing costs paid for my borrower
in the low 4s

Both Listing Agent and Buyer's Agent, as well as other Lenders were telling my borrower that it is impossible, that it takes at least 20% down to purchase a condo in FL

http://www.pro-option.com

Steve McRory
Pro Option Mortgage

http://www.pro-option.com

steve@pro-option.com

CALL 24/7: 888 662 4404



Prior Service U.S. Marine Corps

=

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0 votes Thank Flag Link Wed Dec 4, 2013
Pls coantact me if you have a specific project in mind and I can get that info for you

I am a Mortgage Loan Originator and we do FHA loans also. I have access to the list

Thanks


Tom Bawany | Mortgage Loan Originator | NMLS #519971
Real Estate Mortgage Network, Inc.
500 Winderley Place, Suite 112
Maitland, FL 32751
F: 866.552.6351 | C: 407.924.2759
E: tbawany@remn.com | http://www.remn.com
0 votes Thank Flag Link Wed Dec 4, 2013
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Kick that FHA loan to the curb! Though I do FHA, I've gotten to the point, that with that Life now Of The Loan Monthly MI (Mortgage Insurance)

100% LTV- VA
100% LTV- USDA
99% LTV- FHA/580 score @ lower LTV

97% LTV- NO PMI
97% LTV- CONDO- NO PMI
90% LTV- 2nd Home- NO PMI
90% LTV- JUMBO- NO PMI
85% LTV- Super Jumbo- NO PMI

85% LTV- Invest. /Rental
80% LTV- Foreign Nationals
70% LTV- Manf. Homes over 90k

STATED INCOME ALT-up to Super Jumbo

90% LTV- Short Sale, BK, Foreclosure Forgiveness
80% LTV- FIX n’ FLIP Invest. Prop.
75% LTV- Foreign Nationals
70% LTV- Soft and Hard Money

COMMERCIAL PROGRAMS-nationwide

Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
http://WWW.PRO-OPTION.COM
Ph: 888 662 4404
#204296

Prior Service: U.S. MARINE CORPS
====
0 votes Thank Flag Link Wed Dec 4, 2013
Contact your agent or your lender.
0 votes Thank Flag Link Wed Dec 4, 2013
Ceejay,

The HUD Website is updated as of today. I am enclosing a link for you. I did an Orange County search.
Hope this helps.
Your Realtor Rick.

https://entp.hud.gov/idapp/html/condo1.cfm


http://www.raulaguirre.remax-florida.com/remaxflorida/index.…
0 votes Thank Flag Link Wed Dec 4, 2013
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