Home Buying in Phoenix>Question Details

Reduex2, Home Buyer in Phoenix, AZ

townhomes and FHA loans?

Asked by Reduex2, Phoenix, AZ Sat Apr 28, 2012

want to buy in chandler seem to be able to pre=qualify for FHA loan...what townhomes, condos, patio homes will they accept?

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4
Hello Reduex2. I've been working with a buyer for several weeks now, and she's looking at townhomes (of which most are FHA compliant) and HUD homes, which are also okay for FHA financing. It's quite a mess out there, with most properties not falling within FHA's guidelines for condition of the home OR condo developments that are NOT FHA warranted communities, even though the listing agent chose to list them as being 'ok' for FHA.

I did a quick search in CHANDLER for ALL 'Active' condos/townhomes under $125,000. At this time, there are only eleven listed as 'Active'. Here's the link to those eleven properties:

Follow this link to see the MLS listings:
http://www.flexmls.com/link.html?wyk8yhri80u,12,1
This link is valid until 6/6/2012.

As you can see, inventory levels are VERY low compared to this time last year. It's a true 'sellers' market right now, with multiple offers on property listings within days (or sometimes hours) of them being listed on the MLS.

If you'd like regular up-to-date property listings such as these sent to you, simply give me a call or send me a quick email and I'd be happy to set you up on an MLS portal that will send you listings as soon as they become 'Active' on the MLS.

You really need an agent to help you sort through the 'active' and available property listings AND to help you identify which properties are FHA compliant and which ones to avoid.

Thanks!

Jim Mitchell
Realty ONE Group
Cell: 480.231.6769
Jim@TheAZRealtor.com
0 votes Thank Flag Link Mon May 7, 2012
thanks for your response--i appreciate the time and effort you put into the search--i do have an agent i had just not broached the townhome patio home issue--i am looking into now as the market is moving so fast most home style things are gone before we can get to them...oh the woes odf the gainfully employed! thanks again jim--i appreciate you.
Flag Mon May 7, 2012
Townhomes qualify for FHA financing but some condos don't. The link provided to you below you will tell you which complexes are approved for FHA fiancing. If you are looking for an expierenced agent to help you locate your new home please give me a call. Thank you.

Rachel Shanahan
602-400-3841
dreamhomes11@yahoo.com
http://www.dreamhomesinarizona.com
0 votes Thank Flag Link Sun Apr 29, 2012
thanks for your answer, have an agent he just doesn't work sundays and i am doing some exploring. :)
Flag Sun Apr 29, 2012
The link Leo provided to you is exactly the correct information. Do you have any specific townhome or condo communities in mind? We would love to help you locate a property for you.

Please feel free to contact me at kelly@kellycookhomes.com or check out our website that features over 150 communities at http://www.AZKCRealEstateGroup.com.

Thanks,
Kelly Cook
Keller Williams Arizona Realty
KC Real Estate Group
480-442-9868
kelly@kellycookhomes.com
0 votes Thank Flag Link Sat Apr 28, 2012
thanks for your answer, have an agent he just doesn't work sundays and i am doing some exploring.
Flag Sun Apr 29, 2012
thanks for your answer, have an agent he just doesn't work sundays and i am doing some exploring. :)
Flag Sun Apr 29, 2012
https://entp.hud.gov/idapp/html/condlook.cfm This website will give you all approved projects.
Web Reference: http://www.loansbyleo.com
0 votes Thank Flag Link Sat Apr 28, 2012
thanks for your response--the site showing cannot process my request at this time...guess i'll check it out later.
Flag Sun Apr 29, 2012
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