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.
