FHA Financing

By June 20, 2019No Comments
a home

Talking to you for some more about condominiums.

This time I want to talk about..

Buying a Condo with FHA financing


There is an expression in the mortgage industry,

that “Condos and FHA mix like water and oil”.

Well those don’t mix, so here’s the deal right


In order for a Condo to be

financed with an FHA loan,

the Condo must have FHA approval


Look it varies, but as a rule of thumb there aren’t many


Over the years of lending here in Lee County,

in the decades, I’ve seen the number of FHA

approved have to be as low as 3.

I’ve seen it to be as high as 15 to 20 but,

either way, those are pretty small numbers.


So, here is what you got to do.

If you want to go down that route,

you have to start off by doing

google search “FHA approved Condos”


Generally speaking, when you search that term,

the first thing that pops up is an ENTP site


It’s a search criteria site,

you can go in there and look…

or call me, I’ll do it for you it takes a second

But make sure you are looking at Condos

that are FHA approved,

before you get excited about them.


The other thing to notice

with FHA approvals on Condos

is what the expiration date is.

Because if something is approved today

it could not be approved 3 days ago

if the approval expires

because we have to renew ever so often


So that’s the deal with

Condominium financing and FHA


Now, if I have people that are just

going to buy a condominium

and it is not FHA approved

I just put them into a 3% down

conventional program,

and I did a separate video on that

you can watch that


That is the scoop then

FHA and Condos…difficult…

has to be FHA approved


Im Scott DiGregorio, Your Mortgage Guy

I’ll see you on the next video

Thank you so much for watching, take care.


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