Friday, October 9, 2009

If you are obtaining FHA financing and buying a condo you must read this...

When purchasing a home many things come into play - most importantly what are you going to buy and how are you going to buy it? Are you using financing...if so then what type?

If the answer is that you are buying a condo and using FHA financing then this is vital information to have in your search - all condominium buildings must be approved by FHA. The only way to know if a potential community is approved for certain is to check on line with HUD (Housing and Urban Development) directly. If you have a good agent - like me - then they will do this on your behalf before you even go out to look at it! Who needs to fall in love with a place that they can't buy?!

The link to the website is: https://entp.hud.gov/idapp/html/condlook.cfm

Now, there is talk of FHA requiring all currently approved buildings to reapply but there have been no formal regulations passed yet...as always I will keep you updated as I find out more information.

No comments:

Post a Comment

Post a Comment