We live in Glendae. We are looking for condo to buy by JacobHaddadian from Glendale, California. Jul 29th 2013
You would need to go to FHA's website and look up the development. Here's the link https://entp.hud.gov/idapp/html/condlook.cfm Where the property is located has nothing to do with whether its approved or not.. It has to do with the bylaws, fair housing, CC&R's, etc, that are associated with the development.. If you're looking to purchase a condo in an unapproved development, then it's possible to get the complex approved, although it's a lot of work and there's no guarantee it will get accepted... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
Hi Jacob, Condominiums are approved or disapproved on an individual basis - not upon which city the Condo is located. You can look up an individual condo here: https://entp.hud.gov/idapp/html/condlook.cfm. You may also ask a real estate agent to show condos that are FHA approved in Glendale, CA.
Each condo complex will be considered, based on construction and HOA factors. It is not determined by city or zip code. Consult your realtor.
Here is a great article about buying a condo and knowing if it is on the FHA Approved condo list or not. http://bestminneapolismortgage.com/is-this-condo-fha-approved-important-things-you-need-to-know/
Hi Jacob, each condo is approved on an individual basis - it is not determined by the city it is located in. You can look up the individual condo here: https://entp.hud.gov/idapp/html/condlook.cfm. You can also ask your real estate agent to show you only condos that are FHA approved.
As noted by others, it is the condominium complex that has to be approved, and that is determined by some of the items that were previously mentioned,an by what percentage of the condos are owned by the person living there, how many are rented out, how many are delinquent in paying their dues, etc.Use the link William provided, or talk to your local, licensed mortgage professional to have them assist you in finding condos that meet their criteria -- itmay turn out that they have way to fund "non warrantable" condos - but that might be a bit more of down payment (or not) but a lesser mortgage insuranceprogram. Good Luck.
The City doesn't get approved, the Condo Association gets approved.
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