FHA Approved or Available at Beach front Condos in Miami, Sunny Isles or Aventura under $ 250,000

Asked by Karina Leal, Delray Beach, FL Sat Feb 9, 2013

What are the FHA approved or available beach front condos in Miami Beach, North Miami, Sunny Isles or Aventura under $ 250,000?

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Andre Shambl…, Agent, Miami, FL
Sat Feb 9, 2013
There are some FHA approved projects in the areas you mentioned for about the $250k price mark. However beachfront you can almost forget about it unless your customer increases their price range significantly and consider other forms of financing such as conventional where down payment can range anywhere between 5 - 20%.

The good thing is condo inventory has significantly reduced along the beach due to high demand subsequently increasing the purchase price.
1 vote
Irina Karan, Agent, Aventura, FL
Tue Feb 19, 2013
Hello Karina,

There are very few condos that are approved to do FHA deals.
I had an FHA buyer and we did try to make offers in those condos that were right there on the list -
on https://entp.hud.gov/idapp/html/condlook.cfm

The sellers would reject our offers - they wanted either cash buyers or conventional buyers.

The link above will help you check all areas that you are interested in, by the way.
This info changes all the time - so check that link out.

An alternative to FHA condo buying is buying a foreclosure through the Homepath program.
Take a look at Homepath.com and contact an experienced Realtor to help you sail smoothly
into your new home.

Make sure to get your pre-approval from the lenders that are approved for Homepath program lending.

Irina Karan
Beachfront Realty, Inc.
0 votes
Ginna Rojas,…, Agent, Sunny Isles Beach, FL
Sat Feb 9, 2013
Hello Karina,
My name is Ginna Rojas and I'm a Broker Associate at Optimar Int. Realty in Sunny Isles Beach, FL. I just checked the U.S department of housing and urban development website and found that there is one condo in Miami Beach called Nine Island Ave that is approved until April 2013. For available units in this condo please email me at ginnarojas@hotmail.com or call me at 305-710-6015 so I can send you the list. I agree that some seller's may not accept an offer contingent upon financing but we can always try.

Ginna Rojas
Broker Associate
Optimar International Realty
0 votes
Ann Ryan, Agent, Doral, FL
Sat Feb 9, 2013
If you're approved only for FHA, don't waste your time looking at condos. Even if you can find a homeowner willing to accept your offer, your chances of condo approval are low unless you have a 20% or more deposit.
0 votes
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