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Not too many FHA condos here. (A lot of condo-hotel, resort condo, etc) FHA is definitely not my go-to program since median condo price is creeping up to $400,000 - it makes the MIP unaffordable.
Yes, many HOAs don't go through the renewal process.
Yes, even going CON loan is getting harder and harder for condos. There are only 7 condo complexes in Tucson, AZ on the FHA approved list and those are still hard to get done.
It is hard to find FHA approved condos here.
I haven't noticed and haven't run into more of a problem than before. In fact I find it easier to find condos to go FHA.
YesnI have a buyer looking for condos and would really like to go FHA. I have not found one condo that can go FHA. My buyer is switching to conventional loan.
We've always had very few FHA approved condos here in Martin County. Though, it doesn't seem to keep people fro getting some FHA loans done through some very good lenders.
We have a lot of condos in my trading area but no FHA approved condos.
In my city, there have always been relatively few fha condos.
Yes, many investors are purchasing them, sending the ratio of non-owner occupieds over the 51%.
Hi Jack -- in my market area that's true. I also see many complexes where the certification has expired.
And if I were the property manager I would not jump through the FHA hoops either.
It is important to understand why the buyer is choosing FHA. Is it because the have to (poor credit or no down payment saved) or because they don't want to spend their liquid assets so those assets can be committed to remodeling.
It is like a needle in a haystack here:(
Fewer than many years ago.