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Whether a first time home buyer or repeat buyer, FHA loans provide so many advantages to buy a home. FHA even helps buyers purchasing a condo as a primary residence with the same benefits as a regular home. The only caveat is that the condo must report as approved on the FHA approved condo list.
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Want to see if a specific condo complex is approved by the FHA? Search the master list of FHA-approved condo projects. Exceptions: Site Condos. If the condo development is not on the list or the approval has expired, then the project would need to be approved or re-certified before an FHA loan can be obtained. However, there is one exception: a "site condo." Site condos must meet the following criteria: A unit is encumbered by a condominium declaration/covenant or condominium form of.
Only certain mortgage lenders can issue fha-insured mortgage loans. The HUD website has a current list of all FHA-approved mortgage lenders and brokers (see Resources), and only lenders and brokers.
The condo complex must be approved by FHA. This requires an extensive application that is approved by FHA. If you are looking into purchasing a condo it is important that you visit FHA’s website to ensure that you condo is on the currently approved list. You can search by the name of your condo, or by ZIP code.
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Hawaii Condos FHA Approved | Oahu, Maui, Kauai, and Big Island – The list below consists of most Hawaii condos approved for FHA, but there are others that may have.
I own an apartment in a condominium development that I am trying to sell. I have a potential buyer who wants to use an FHA loan because of its low down-payment requirements, but he says my project is.