Can Condo Financing Get Any Harder? Yes!

The new rules state that no more than 30% of the units in a condominium complex can be financed with FHA loans….FHA loans are ideal for first time buyers because they allow for low down payments of only 3. … Save up 10 and finance with a conventional loan?…The new FHA lending policies spelled out in Mortgagee Letter 2009-46 B limit the number of condo units in one complex that can be financed with FHA-insured loans a…Spot approvals allow FHA lenders to finance one condominium unit in a building that has not been approved by HUD….

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Can Condo Financing Get Any Harder? Yes!

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