22,060
Not too many FHA condos here. (A lot of condo-hotel, resort condo, etc) FHA is definitely not my go-to program since median condo price is creeping up to $400,000 - it makes the MIP unaffordable.
126,764
175,614
Yes, even going CON loan is getting harder and harder for condos. There are only 7 condo complexes in Tucson, AZ on the FHA approved list and those are still hard to get done.
179,169
3,988,007
I haven't noticed and haven't run into more of a problem than before. In fact I find it easier to find condos to go FHA.
67,369
YesnI have a buyer looking for condos and would really like to go FHA. I have not found one condo that can go FHA. My buyer is switching to conventional loan.
4,800,082
We've always had very few FHA approved condos here in Martin County. Though, it doesn't seem to keep people fro getting some FHA loans done through some very good lenders.
1,157,785
443,220
5,868,554
Yes, many investors are purchasing them, sending the ratio of non-owner occupieds over the 51%.
4,572,183
Hi Jack -- in my market area that's true. I also see many complexes where the certification has expired.
921,504
You bet.
And if I were the property manager I would not jump through the FHA hoops either.
It is important to understand why the buyer is choosing FHA. Is it because the have to (poor credit or no down payment saved) or because they don't want to spend their liquid assets so those assets can be committed to remodeling.
112,947
699,277