No Longer able to do spot approvals. you can try to get the entire project approved. the latest HUD mortgagee letter has mentioned that guidelines for Condo approvals are now less strict.
nope, not any more.
FHA no longer allows "Spot Approvals"... you either find a complex that is approved, or find a single family home.. 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
Unfortunately, FHA did away with what was called "spot condo" approval. Now, the entire project must be approved.
HelloFHA will no longer do spot approvals, however, in most cases you can still get financing through Fannie Mae/Freddie MacPlease email for further detailskclancy@firstcal.netThanks!Kim
Nope, FHA doesn't allow it anymore. Sorry.
No... Too much risk. This is also the main reasons that condo values have dropped so far.... Remember that if you buy it when you want to sell.
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