Unfortunalty many are not, especially the new buildings. And there is no official "list" to find one, it is more of a building by building search.
My assumption is the older buildings along the Venetion would be FHA approved, and I am pretty sure the Grand Venetion is.
It would require knowing your price range and the specifics of you search to give a more comprehansive anser. If you are working with a mortgage broker they can generally find out the information and a realtor an as well. Another option is to directly call the condo management office of a building you are considering, they will whould know if the building would quialify.
Good luck and feel freee to get in touch if you need further assistance,
South Florida Brokers
The Bentley Bay is finally coming around and becoming a great asset to the neighborhood. There are some wonderful opportunities to buy there. The neighborhood is evolving and it will soon be a prime location.
Are you from the South Beach area? Are you looking to buy or sell there? I would be happy to provide you with comparable information.
Carson Realty Group... more
I would have to say no, that they are not undervalued. Since most of those buildings are matured, they are selling at what the market feels that they are worth.
You'd have to remember that there aren't really any new, luxury buildings in that neighborhood. Capri is the only one--and that will be the most expensive of them all.
If the market feels that West Ave are is undervalued then the Flamingo would be totally sold out.... more
An FHA loan will allow you to borrow up to 96.5% on a purchase, so your down payment can be as low as 3.5%. Any loan amount borrowed that's over 80% will require mortgage insurance, so be prepared for that extra expense.
As a side note, if you are a new home buyer the $8000 tax credit can be used towards your closing costs.
E Mortgage Management
800.793.9633 ext. 156