If you financing if FHA, the what you buy must be FHA approved. This comes into play with condo ownership. Many of the condos have let their FHA approval lapse which is a real shame. I've even tried offering out my service with the assistance of a willing mortgage rep to assist with the "work" of getting the approval without success.
Banks used to do "spot" approvals, ie individual approvals of units, but that is rarely if ever done anymore. You'll want to focus on developments that have a current approval. Your agent and banker can guide you from here.
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