fha condo loans connecticut: FHA Condo Certification Exception - 10/14/11 12:32 PM
A major concern with Condo's these days is that many Condo Complexes are no longer on the FHA Approved Condo List, because they did not re-certify with FHA before their approval expired.  As a result Condo owners are finding it difficult to sell their Condos, and Buyers are finding it very difficult to buy them.
If a Condo Complex is not on the FHA Approved Condo List, the Condo will not qualify for FHA or Connecticut Housing Finance Authority (CHFA) financing.  This leaves a Conventional Loan as the best remaining option.  However Conventional Loans are more difficult to do on Condos … (11 comments)

fha condo loans connecticut: FHA Condominium Approvals - 04/11/09 07:51 AM
Presently it is easier to do am FHA Loan on a Condo than on a Fannie Mae or Freddie Mac (Conventional Loan), because of downpayment requirements and Condo Project Reviews.  Early last year Fannie Mae and Freddie Mac announced that they would no longer be keeping a list of approved condo's, and that it would be up to each individual Lender to develope their own list.   This means that each Lender has to not only do a Full Condo Review the first time they do a loan on a Condo Complex, but they aslo have to have all of the … (9 comments)

 
George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages)

George Souto

Your Connecticut Mortgage Expert

Middletown, CT

More about me…

George Souto NMLS #65149 FHA, CHFA, VA Mortgages

Address: One Liberty Sq., PO Box 1000, New Britain, Ct, 06050

Office: (860) 573-1308

Mobile: (860) 573-1308



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