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Condominium Approvals
NAR supports developing policies that will give current homeowners and potential buyers of condos access to more flexible and affordable financing opportunities and a wider choice of approved condo developments.
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Homeowners associations in some areas are turning the tables and foreclosing on the banks, CNNMoney reports.
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On Oct. 20, Fannie Mae will tighten some of its underwriting standards for condo buyers and home owners wanting to refinance. The changes have some in the industry concerned.
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Townhouse construction is soaring in recent months and is expected to continue to grow in demand, according to the builder trade group.
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The Federal Housing Administration (FHA) issued a mortgagee letter announcing modest improvements to the treatment of condos under the FHA program.
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Some positive news from FHA today on its condo financing rules, with more changes expected to come in the near future.
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This chart, updated on August 1, 2012, compares key condo rules from Fannie Mae, Freddie Mac, and the FHA. It explores topics like: Owner occupancy requirements, limits on commercial space in condos, investor ownership limits, and condo hotel rules.
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Sixty-nine Members of the House of Representatives wrote to the FHA last week, asking them to loosen restrictions on the sale of condominiums.
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Get news and background information on the issue of condominium approvals, including the latest on the FHA's effort to clarify, expand, consolidate and update existing guidance on the approval process for single family housing condos.
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In recognition of the unprecedented market challenges, FHA Has revised its condominium policies, including temporary enhancements designed to support the market. These updates become effective Dec. 7, 2009.
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The flyer can help you find Over 40,000 FHA-approved condominium projects on the Internet in just three easy steps.