Property Q&A in Chicago>Question Details

andyvho, Home Buyer in Chicago, IL

Is this unit/building FHA approved?

Asked by andyvho, Chicago, IL Tue Apr 17, 2012

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This question is about this property: http://www.trulia.com/property/3065120474-700-W-Bittersweet-…

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Answers

8
Hi Andy,

This building does have FHA approval. Every loan is underwriten based on the 22.1 disclosure, so things can change. If you need help finding a condo that meets your needs, I would be happy to help. My services are free to you as a buyer.

Best,
Ivan Sagel
312-515-7823
IvanSagel@DwellOneRealty.com
0 votes Thank Flag Link Thu Apr 19, 2012
0 votes Thank Flag Link Wed Apr 18, 2012
Andy,

Quite frankly, it doesn't matter if it is or not, because we've got a great program for First Time Homebuyers that features:
- Lower down payment options than FHA (3% vs. 3.5%)
- Lower Mortgage Insurance than FHA (NO upfront MIP, vs. 1.75% thru FHA)
- Lower Monthly Mortgage Insurance than FHA
- FHA approval is not required

To find out more, give me a call, shoot me an email, or go to my website and click on "start the process"

Matt Bukovy
Senior Mortgage Consultant
Wintrust Mortgage
mbukovy@wintrustmortgage.com
773-416-7107
http://www.mattbukovy.com


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0 votes Thank Flag Link Wed Apr 18, 2012
It is cofirmed with the HUD site that it is FHA-approved, with only an 8% FA concentration. Their FHA-approved status expires on 12/19/13, but typically gets renewed easily as long as nothing drastic has changed in the building.

Our office is a few blocks from there. Feel free to contact me if you would like to discuss that building and neighborhood.

Good luck,
Mark
Web Reference: http://www.markbazzetta.com
0 votes Thank Flag Link Wed Apr 18, 2012
sure is.. but that is only as good as the last 22.1 form filled out.. things can change
0 votes Thank Flag Link Wed Apr 18, 2012
Yes, it is fha approved, but the quality of construction is not so good. I believe you can hear neighbors more easily than in most buildings, particualry from above. Be sure to check it out before buying.
0 votes Thank Flag Link Wed Apr 18, 2012
Yes this building is FHA approved.
Web Reference: http://AmericorpRe.com
0 votes Thank Flag Link Wed Apr 18, 2012
FHA doesn't approve individual units anymore. I believe the building is, but I will have to check with HUD.gov in the morning to make sure.
Web Reference: http://www.markbazzetta.com
0 votes Thank Flag Link Tue Apr 17, 2012
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