Are there any FHA approved Condo/Townhomes in San fernando Valley?

Asked by Mytiah, Encino, CA Tue Mar 5, 2013

I've been trying to purchase a Condo with a FHA loan, needless to say "NO" luck... Can I do 5 %conventional loans on a condo/townhouse? If so, any lender somebody can recommend?

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Fri Feb 13, 2015
For an updated list of FHA approved condos in the Boston area checkout… 24/7 access. Unfortunately the HUD site is down in evenings and on weekends when people need it most. Most other sites have data that is out of date.
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Jacqui Rum, Agent, Westlake Village, CA
Tue Jan 13, 2015

I have a list of about 200 condo complexes that accept FHA loans!
I can forward it to you if you'd like.
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Riccardo War…, Agent, Bolingbrook, IL
Mon Jan 12, 2015
Has to be...
But if not, we will do Conventional down to 620.

Riccardo Wardlow
Sales Manager
NMLS 219402
Cross Country Mortgage
323 546 8066

Specializing in Illinois and California

*We do Conventional loans down to a 620 score
*We do FHA loans down to a 580 score
*We do USDA loans down to a 620 score (no money down)
*We do $100 down payment FHA program
*Unlimited Loan To Value refinances on Fannie/Freddie refinances (only on loans originated before May 31st 2009
*We do VA loans down to a 600 score
*We give free counseling on what needs to be done to improve your credit score.
*We do 203k loans down to a 640 score
*We do reverse mortgages
*We do JUMBO loans to 12 million
*Investment properties
*Closing loans in 3 - 3.5 weeks
0 votes
Latonyazfair, Home Buyer, Los Angeles, CA
Sun Jan 11, 2015
Union Bank does 5% conventional loans.
0 votes
Maggie Oreck, Agent, Studio City, CA
Thu Oct 30, 2014
Villa Lorena HOA @ 18307 Burbank Blvd. Tarzana, Ca 91356 Is an FHA approved complex
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navasjose4k, , San Fernando, CA
Mon Mar 17, 2014
I might be a bit late for this one but most if not all HOA in the San Fernando Valley specially Pacoima, San fernando, Sylmar have not renewed their FHA Certifications. The issue with purchasing 5% conventional as well is that you must check the reserve of the HOA. If you have any question we would love to give you some free..NO OBLIGATION.. information... Creative Lending in the city of San Fernando, CA.... give me a call and I will assist you with your concerns and have one of our loan officers contacted you directly with solutions. Also, your buyers agent needs to be fairly knowledge with the area and do some extra investigation work by contacting the HOA directly and asking them if they are approved for FHA or their reserve for conventional.
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CJ Tholberg, , Tarzana, CA
Fri May 17, 2013
There are still FHA Approved condos in the San Fernando Valley. You just have to look for them. This comes from a SFV native who just spent nearly a year trying to find and buy a condo in an FHA approved development.

My first reccomendation would be to make a list of cities in the valley you are interested in living in. Then I would reccomend going to HUD's FHA approval roster located at . From there you can identify what condos in that city are FHA approved by searching the cities on you list. I would also reccomend searching by zip code because some condos on the roster have the city entered incorrectly.

Write down the condos that you find that have the status Approved and are not expired. You should include the condo name, condo id, expiration date and address.

Now you have a list of communities that can accept FHA offers. They may not even know they're approved so keep the list handy and share it with your agent so they can better target your listings.

Hope it helps!
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0 votes
Jodie Franci…, Agent, Studio City, CA
Tue Mar 5, 2013
Hi Mytiah,

Yes there are a few, but because of the recession and new FHA rules there are not a lot. Like Sara said, it's important that you work with an experienced realtor and lender. Let me know if you need any help, and good luck!

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James Sanchez, Agent, Burbank, CA
Tue Mar 5, 2013
FHA approved... NO... ok well maybe there is 2 or 3 complexes left that are FHA approved. Usually if a condo/ townhome comes on the market that is FHA approved, they will have multiple offers, over asking and will be in escrow in 3 days.

You can do a 5% conventional loan but like said before, the HOA's will have to be good financially with their funds in the bank and no pending litigations.

Call Rob @818-340-5900, tell him I sent you and he will take care of everything.

Good luck,

Web Reference:
0 votes
Sara Mehrpou…, Agent, Los Angeles, CA
Tue Mar 5, 2013
Hi Mytiah. There aren't too many FHA approved buildings left (there are some). It's important to work with an experienced Real estate agent because they will need to confirm on the FHA approval for each condo/townhome listing that's for sale. Feel free to email me at & I will refer you to a lender that I trust. She can do 5% down conventional. The only thing with that is that the building's HOA will have to be strong financially & have their documentation "in order" because it will be required by the lender.

Good luck,
Sara Mehrpouyan
Rodeo Realty
Direct 818-903-2040
Dre License #01712757

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