February 7, 2011
Do I Need a Lawyer to Close an FHA Loan?
When some first-time home buyers decide to commit to getting an FHA
Articles in Category: Condominium Mortgage
February 2, 2011
FHA Loans: Using Online Calculators to Choose the Loan For You
When you want to get an FHA loan--especially for that first home purchase--there are a lot of options to choose from. How does a buyer know which FHA loan product to choose? There are many ways to answer that question, but it all depends on the buyer, what his or her goals are, and how important certain kinds of savings are to the future home owner.
January 20, 2011
FHA Loans for Unique Properties
House hunting has some unique challenges depending on the type of property a buyer wants. When an FHA loan applicant finds a home that isn't quite standard but still desirable, the buyer and seller alike may be a bit nervous when it's time to have the property looked over by an FHA assigned appraiser. Sometimes establishing fair market value isn't the reason for those nervous feelings; the buyer and/or seller might be worried the property won't get appraised at all because of those features.
January 14, 2011
FHA Condo Loans
FHA loans come in many different types. Not all house hunters want the same thing from their FHA mortgages, and FHA planners have anticipated this by creating many different options for those who want to borrow money with an FHA-insured loan. Those options are not limited to the terms and conditions of the FHA loan itself. There are many different types of properties a potential home owner can include on the search for a new home. The typical suburban home is just one option. Some buyers want the house, the yard, and the driveway. But what about those who live in the city? The FHA offers guaranteed loans for condominium units as well as traditional houses. FHA condo loans are a bit more involved than a typical home purchase, but | more...
January 3, 2011
What Is Different About an FHA Condo Loan?
Those who buy suburban homes with an FHA mortgage have a set of requirements and responsibilities; some neighborhoods have homeowner's associations with bylaws and clauses that must be agreed upon. Others don't, but find they have their own community standards and informal covenants to live up to. When it comes to FHA condo loans, the buyer shouldn't expect to have the same experience as when purchasing a suburban home. Condo purchases carry unique responsibilities the buyer should consider before agreeing to purchase.
January 3, 2011
FHA Loans for Condominiums
FHA home loans aren't just for traditional suburban homes; there are a wide range of choices for buyers interested in something outside a typical neighborhood. One of those options is an FHA condominium loan. The FHA guarantees home loans for proposed and under construction condo projects as well as existing condo units. The FHA can also approve mortgages for conversion projects where a property is renovated and converted into a condominium. FHA loan applicants seeking a condo loan have a few restrictions those searching for more traditional homes don't have to worry about.
December 2, 2010
Can I Get an FHA Home Loan for a Condo Unit?
There are many types of FHA home loans. Depending on your needs, you may find a traditional FHA mortgage is the best choice, but there are energy efficient mortgages, FHA 203(k) loans, FHA loans for manufactured homes and many others. For those searching for an FHA loan for a condominium unit, the process is a bit more complex than for a suburban home but FHA condo loans are definitely a possibility. The FHA requires condominium projects to be FHA approved before they will be processed for loans on individual condo units.
July 6, 2010
Why Should I Consider an FHA Loan?
There are plenty of reasons to consider an FHA loan.FHA insured home loans can be used for a variety of properties and purposes. Those who apply and qualify for FHA loans can purchase a home for up to four families, a condo or even a manufactured home on a permanent foundation.