This Condo is FHA-Approved (Or Not…)
December 9, 2009 by Kristin LaVanway · 2 Comments
The FHA is getting ready to update its guidelines for borrowing on condos, townhomes and patio homes. Starting in February 2010, “FHA approved” will mean 3.5% down plus a financially stable association approved by your lender. This is huge and is a big reason for the associations who manage these communities to get their acts together.
Visit these links for more information:
To see if a condo project is FHA-approved: https://entp.hud.gov/idapp/html/condlook.cfm
For more information on buying a condo: http://www.myfha.net/FHAcondo/
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I am a Realtor in Gilbert, AZ, working with clients throughout the Phoenix Metro area. I am lucky to love what I do and appreciate the difference I can make in people's lives.
In a previous life, I was a rocket scientist - really! - but decided to step away from corporate America to be a Mom to my four boys. Found it hard to do bake sales, so I ran a small independent programming business instead.
Flash forward...I am now a single mom and I face many, many challenges everyday. I am living through the hardships that many are facing in this economy. These experiences have motivated me to help other people in my shoes.
I have teamed up with Dean Ouellette to form the East Valley Team - the best darn team in the Valley. Check out our site at http://www.EastValleyTeam.com. I spend way too much time on YouTube - check ou tmy channel at http://www.youtube.com/klavanway
What was so funny off camera?
My house was like a 3-ring circus yesterday. I had to start over and over after telling everyone to be quiet. While I was doing this take that I was determine would be my last, I spotted a small herd of boys sneaking oh so quietly down the hallway…it just cracked me up!