Property Q&A in Saint Louis>Question Details

lovely2justbe, Home Buyer in Saint Ann, MO

Is this condo FHA approved?

Asked by lovely2justbe, Saint Ann, MO Tue Feb 12, 2013

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This question was asked from this property: http://www.trulia.com/property/3103699509-12395-Sparrowwood-…

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Answers

3
In order to be on the fha approved list, a complex has to file a lot of paperwork. It takes time and money. They have to show the types of loans on all the properties in the complex, show all their financials, show that their savings and investments will cover any big expenses that come up, show how many units are rented vs owner occupied and much more. Many complexes that meet the requirements dont bother to file the paperwork as a result.

If a buyer wants to buy in a complex that can meet the fha requirements but which hasnt filed, their mortgage lender can apply for a one time exemption for the complex
0 votes Thank Flag Link Tue Feb 12, 2013
Yes this condo Is eligible for FHA loans. If you would like to view this property or need a recommendation on lenders contact me at 314-433-0723
0 votes Thank Flag Link Tue Feb 12, 2013
This condo is FHA Approved thru 4/10/2014 which you means you would be able to purchase this with an FHA loan. Let me know if you need some lender recommendations.
0 votes Thank Flag Link Tue Feb 12, 2013
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