FHA Spot Approval for Condos Expires After Feb. 1, 2010
Meeting Federal Housing Administration (FHA) requirements is important for your condominium association because doing so dramatically increases your condominiums' marketability. An increasing number of first-time homebuyers are pursuing FHA-insured mortgages for purchasing condominium units. And for communities that meet FHA requirements and obtain approval, these potential buyers can get loans that require down payments of only 3.5 percent and qualify for loans under less burdensome terms.
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