See the following:
"Greater numbers of condominiums now qualify for mortgage financing insured by the Federal Housing Administration. That's because this month the U.S. Department of Housing and Urban Development, which oversees the FHA, loosened its requirements for association approval."
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Coldwell Banker Heritage Realtors
The regulations have also changed for residential financing, so check to see if you qualify based on your debt to income ratio, before selling your condo.