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Fha Approved Condos All Locations : Nationwide Real Estate Advice

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Showing results for Fha Approved Condos [Clear search]
Fil Superfis…, Real Estate Pro in 48375, MI
Wed Nov 5, 2014
Fil Superfisky answered:
Yes, a 1 car common garage/carport adjacent to the main building
0 votes 11 answers Share Flag
Kelly Ward,  in Utah
Wed May 13, 2015
Kelly Ward answered:
Hi Thomas,

From what I read, it sounds like you need to work on raising your credit scores first.

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800 901-8122 ext 211
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The Fair Credit Reporting Act states:
Consumer reporting companies must investigate the items you question within 30 days. They also must forward all the relevant data you provide about the inaccuracy to the organization that provided the information. After the information provider receives notice of a dispute from the consumer reporting company, it is required to investigate, review the relevant information, and report the results back to the consumer reporting company. If this investigation reveals that the disputed information is inaccurate, the information provider has to notify the nationwide consumer reporting companies so they can correct it in your file.

When the investigation is complete, the consumer reporting company must give you the results in writing, too, and a free copy of your report if the dispute results in a change. If an item is changed or deleted, the consumer reporting company is not permitted to put the disputed information back in your file unless the information provider verifies that it is accurate and complete.
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0 votes 10 answers Share Flag
Eric Hegwer, Real Estate Pro in Austin, TX
Tue Oct 16, 2012
Eric Hegwer answered:
Every lender has a different requirement. 20% is pretty standard, but there are other options available. Call me and I can help guide you through the process.

Eric Hegwer
A JB Goodwin Agent
512.712.5842
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0 votes 10 answers Share Flag
Victoria Pop…, Real Estate Pro in Bayside, NY
Mon Oct 15, 2012
Victoria Poptean answered:
Hard to tell. Different boards, whether coop or condo, can have different down payment requirements. Coops are usually less expensive so your down payment may translate to a higher percentage.

I suggest you get a pre-approval letter from a mortgage banker on how much you can afford to buy, and get a real estate agent of your own to help you with the search. Good luck!
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0 votes 6 answers Share Flag
Alan May, Real Estate Pro in Evanston, IL
Sun Dec 8, 2013
Alan May answered:
How much you "have" to put down, it up to your lender, your credit score, and the type of loan you're taking out. Talk to your lender.
0 votes 9 answers Share Flag
Robert McArt…, Real Estate Pro in Fallston, MD
Mon Nov 5, 2012
Robert McArtor answered:
I would Call
Steve Barker
Market Leader
(NMLS 193999)
New American Mortgage
Phone: 443-629-8462
0 votes 16 answers Share Flag
Marge Bennett, Real Estate Pro in Fort Myers, FL
Tue Sep 15, 2015
Marge Bennett answered:
it's more that they haven't applied to get FHA approved. Don't know that there are any pitfalls for the assoc or the Realtors as long as the appraisals come in OK
0 votes 15 answers Share Flag
Nida Kabbaj, Real Estate Pro in Plainview, NY
Fri Oct 12, 2012
Nida Kabbaj answered:
If the condo development is FHA approved, you can put down as little as 3.5%
0 votes 4 answers Share Flag
Anna M Brocco, Real Estate Pro in Williston Park, NY
Thu Oct 11, 2012
Anna M Brocco answered:
Discuss with your loan officer; is the condo FHA approved.....
0 votes 4 answers Share Flag
Cindy Davis, Real Estate Pro in San Diego, CA
Tue Oct 23, 2012
Cindy Davis answered:
Absolutely! As long as the home meets the minimum property requirements!
0 votes 8 answers Share Flag
Michelle Zor…,  in Queens, NY
Wed Oct 10, 2012
Michelle Zorbas answered:
You can if it is an FHA approved condo, meaning the government will back the loan. As for maintenance fees, they vary from building to building.
0 votes 7 answers Share Flag
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Thu Jul 25, 2013
Tim Moore answered:
For a property to allow an FHA loan one thing is it must pass a FHA inspection from a FHA inspector. It must be in an area where they allow homes to use an FHA loan. You then must qualify for the FHA loan and put down 3.5% for a down payment (or more). The difference in conventional is you often need 20% down but sometimes 10 or 15% is needed. There is no inspection required and if you put down 20% you won't have any PMI or MIP payments as with FHA. You need to speak to a lender 1st and go from there. ... more
0 votes 8 answers Share Flag
Alain Picard, Real Estate Pro in Puyallup, WA
Fri Oct 19, 2012
Alain Picard answered:
I would definitely suggest that you and the current owner use your own Real Estate agents. There is just so much that is involved with the purchase of a home it is almost always a good idea to have the expertise of an agent to help with the sale. I hear it all the time when a seller and buyer do this on their own someone ends up not being happy with the results in the end. ... more
0 votes 10 answers Share Flag
Annette  Law…, Real Estate Pro in Palm Harbor, FL
Sun Oct 7, 2012
Annette Lawrence answered:
Discrimination is against the law.
Your source may not be well informed.

Consider consulting a professional
0 votes 7 answers Share Flag
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tue Oct 9, 2012
Tim Moore answered:
Most Realtors are honest. You would have to look hard to find one that is not and that has been in business for a long time, so find one with experience and you likely have found a good one.
Good luck.
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0 votes 25 answers Share Flag
Fred Glick, Real Estate Pro in Mountain View, CA
Sun Oct 7, 2012
Fred Glick answered:
Not good at all, but don't worry.

Rates change every day and they have remained very low and should remain that way for awhile.

Once you get your agreement of sale finalized, check with a few companies to see what they can offer you. But, make sure through your real estate agent that the condo is financeable.

If they are not sure, you can contact me and I can find out. That is very important. Not all condos can get mortgages.

Also, you may need an FHA mortgage based on what you want to buy. FHA is very specific about which condos they approve.

Feel free to contact me to go over your details when you are ready.

Fred Glick, NMLS #133975
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0 votes 8 answers Share Flag
Audrey Hunt, Real Estate Pro in Fairfax, VA
Tue May 7, 2013
Audrey Hunt answered:
You have to watch where you purchase if you plan on renting out rooms! Better check first where that is allowed. Condos or townhouse maybe/ Parking can be a problem. Check with a lender to see what you can purchase. Rates have never been so low! I'd be glad to help you1 Been in the business over 27 years! ... more
0 votes 13 answers Share Flag
Kimberly Har…, Real Estate Pro in Clinton Township, MI
Thu Oct 4, 2012
Kimberly Harris answered:
Hello,
I am sorry Heritage Pointe Condominiums are NOT FHA approved. Their FHA eligibility expired back in March 2011.

If you need any more real estate information feel free to contact me directly.


Best Wishes!

Kimberly Harris
Real Estate One
586.991.1006
... more
0 votes 5 answers Share Flag
Nirmala Cara…, Real Estate Pro in Bronx, NY
Mon Oct 1, 2012
Nirmala Caraballo answered:
Dear pool_88,

Most Coops require anywhere from 10%-25% down payment the amount varies from building to building. You will need to apprx. the following, down payment (amount based on the purchase price), 3% of the purchase price for closing closts and apprx. 3-6 months of maintenance in savings after you purchase.

Another option you may want to consider is FHA approved Condos, where you can put as little as 3.5% down payment. You should consider meeting with a mortgage professioal to get preapproved, this will provide a guide for you in terms of how much you can afford to buy.

If you are not working with a buyers agent, please consider doing so, you do not pay a fee unless otherwise agreed to.

Good luck.
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0 votes 3 answers Share Flag
Carey Cyr, Real Estate Pro in Port Orange, FL
Wed Oct 3, 2012
Carey Cyr answered:
Good Evening!

I would love to assist you in your search for beachside property... please send me your email.. together with bedroom requirements... and I will be happy to search in the $150 range for you!

We have several options for you to pick from.

If you are already working with a Real Estate Agent.. I'm sure they can search for you... if
not... I'm ready!

Thank you,

Carey
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0 votes 1 answer Share Flag
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